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A simple decentralized matching mechanism in markets with couples

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  • Alfredo Salgado-Torres

    ()
    (Universidad Carlos III de Madrid)

Abstract

We analyze a simple decentralized matching mechanism in market with couples called One Application Mechanism. Under this mechanism any stable matching of the market can be attained in Subgame Perfect equilibrium (SPE). In contrast with previous results, we find that the mechanism may attain unstable matchings in SPE. We show that only one special kind of instability is admissible in equilibrium and we argue that this exclusively comes from coordination failures between members of couples. Our main result shows that the One Application Mechanism implements in SPE the set of pairwise stable matchings in markets with couples.

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File URL: http://www.accessecon.com/Pubs/EB/2012/Volume32/EB-12-V32-I3-P198.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 32 (2012)
Issue (Month): 3 ()
Pages: 2044-2055

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Handle: RePEc:ebl:ecbull:eb-12-00128

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Related research

Keywords: Markets with couples; Decentralized matching; Stable matchings; Implementation;

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References

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  1. Bettina Klaus & Flip Klijn, 2004. "Paths to Stability for Matching Markets with Couples," Working Papers 156, Barcelona Graduate School of Economics.
  2. Alcalde, Jose & Perez-Castrillo, David & Romero-Medina, Antonio, 1998. "Hiring Procedures to Implement Stable Allocations," Journal of Economic Theory, Elsevier, vol. 82(2), pages 469-480, October.
  3. Triossi, Matteo, 2009. "Hiring mechanisms, application costs and stability," Games and Economic Behavior, Elsevier, vol. 66(1), pages 566-575, May.
  4. Roth, Alvin E & Vande Vate, John H, 1990. "Random Paths to Stability in Two-Sided Matching," Econometrica, Econometric Society, vol. 58(6), pages 1475-80, November.
  5. Alvin E. Roth, 2008. "What Have We Learned from Market Design?," Innovations: Technology, Governance, Globalization, MIT Press, vol. 3(1), pages 119-147, January.
  6. Haeinger, Guillaume & Wooders, Myrna, 2003. "Decentralized Job Matching," The Warwick Economics Research Paper Series (TWERPS) 688, University of Warwick, Department of Economics.
  7. Bettina Klaus & Flip Klijn & Jordi Massó, 2003. "Some Things Couples always wanted to know about stable matchings (but were afraid to ask)," Working Papers 78, Barcelona Graduate School of Economics.
  8. Alcalde, Jose & Romero-Medina, Antonio, 2000. "Simple Mechanisms to Implement the Core of College Admissions Problems," Games and Economic Behavior, Elsevier, vol. 31(2), pages 294-302, May.
  9. Matteo Triossi & Antonio Romero-Medina, 2010. "Non-revelation Mechanisms in Many-to-One Markets," Documentos de Trabajo 273, Centro de Economía Aplicada, Universidad de Chile.
  10. Bettina Klaus & Flip Klijn & Toshifumi Nakamura, 2005. "Corrigendum: Stable Matchings and Preferences of Couples," Working Papers 261, Barcelona Graduate School of Economics.
  11. Bettina Klaus & Flip Klijn, 2004. "Stable Matchings and Preferences of Couples," Working Papers 117, Barcelona Graduate School of Economics.
  12. Claus-Jochen Haake & Bettina Klaus, 2008. "Stability and Nash implementation in matching markets with couples," Working Papers 399, Bielefeld University, Center for Mathematical Economics.
  13. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  14. Maskin, Eric & Sjostrom, Tomas, 2002. "Implementation theory," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 5, pages 237-288 Elsevier.
  15. Klaus, Bettina & Klijn, Flip & Nakamura, Toshifumi, 2009. "Corrigendum to "Stable matchings and preferences of couples" [J. Econ. Theory 121 (1) (2005) 75-106]," Journal of Economic Theory, Elsevier, vol. 144(5), pages 2227-2233, September.
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