Matching with Contracts: Comment
AbstractHatfield and Milgrom (2005) present a unified model of matching with contracts phrased in terms of hospitals and doctors, which subsumes the standard two-sided matching and some package auction models. They show that a stable allocation exists if contracts are substitutes for each hospital. They further claim that if a hospital's preferences violate the substitutes condition, there exist singleton preferences for the other hospitals and doctors such that no stable allocation exists. We show this last claim does not hold in general. We further present a weaker condition that is necessary to guarantee the existence of stable allocations.
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 98 (2008)
Issue (Month): 3 (June)
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
- J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
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- John William Hatfield & Scott Duke Kominers, 2012. "Matching in Networks with Bilateral Contracts," American Economic Journal: Microeconomics, American Economic Association, vol. 4(1), pages 176-208, February.
- Hatfield, John William & Kojima, Fuhito, 2010. "Substitutes and stability for matching with contracts," Journal of Economic Theory, Elsevier, vol. 145(5), pages 1704-1723, September.
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- Kojima, Fuhito, 2013. "Efficient resource allocation under multi-unit demand," Games and Economic Behavior, Elsevier, vol. 82(C), pages 1-14.
- Vilmos Komornik & Christelle Viauroux, 2012. "Conditional Stable Matchings," UMBC Economics Department Working Papers 12-03, UMBC Department of Economics.
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"Identification in Matching Games,"
NBER Working Papers
15092, National Bureau of Economic Research, Inc.
- Roessler, Christian & Koellinger, Philipp, 2012. "Entrepreneurship and organization design," European Economic Review, Elsevier, vol. 56(4), pages 888-902.
- Hatfield, John William & Immorlica, Nicole & Kominers, Scott Duke, 2012. "Testing substitutability," Games and Economic Behavior, Elsevier, vol. 75(2), pages 639-645.
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