This paper was previously circulated as “Transparency in Centralised Allocation: Theory and Experiment.” The authors thank Tommy Andersson, Inacio Bó, Somouaoga Bonkoungou, Battal Doğan, Matthew Jackson, Bettina Klaus, Dorothea Kübler, François Maniquet, Alex Nesterov, Parag Pathak, Al Roth, Colin Sullivan, Camille Terrier, Ashutosh Thakur, William Thomson, and seminar and conference students in Bern, Berlin, Budapest, Gothenburg, Lausanne, Lisbon, Málaga, Raleigh, Stanford, York, and Zürich. The authors also thank Nina Bonge and Fidel Petros for help with conducting experiments and Jennifer Rontganger and Christopher Eyer for copyediting. Part of this research was done while the author (Madhav Raghavan) was at the University of Lausanne, Switzerland.