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Two-sided matching with interdependent values

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Author Info

  • Chakraborty, Archishman
  • Citanna, Alessandro
  • Ostrovsky, Michael

Abstract

We introduce and study two-sided matching with incomplete information and interdependent valuations on one side of the market. An example of such a setting is a matching market between colleges and students in which colleges receive partially informative signals about students. Stability in such markets depends on the amount of information about matchings available to colleges. When colleges observe the entire matching, a stable matching mechanism does not generally exist. When colleges observe only their own matches, a stable mechanism exists if students have identical preferences over colleges, but may not exist if students have different preferences.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 145 (2010)
Issue (Month): 1 (January)
Pages: 85-105

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Handle: RePEc:eee:jetheo:v:145:y:2010:i:1:p:85-105

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Web page: http://www.elsevier.com/locate/inca/622869

Related research

Keywords: Interdependent values Stability Matching;

References

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  1. Roger B. Myerson, 1977. "Incentive Compatability and the Bargaining Problem," Discussion Papers 284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-819, November.
  3. FORGES, Françoise, . "Posterior efficiency," CORE Discussion Papers RP -1077, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Hoppe, Heidrun C. & Moldovanu, Benny & Sela, Aner, 2005. "The Theory of Assortative Matching Based on Costly Signals," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 85, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  5. Roth, Alvin E., 1989. "Two-sided matching with incomplete information about others' preferences," Games and Economic Behavior, Elsevier, vol. 1(2), pages 191-209, June.
  6. Chade, Hector, 2006. "Matching with noise and the acceptance curse," Journal of Economic Theory, Elsevier, vol. 129(1), pages 81-113, July.
  7. Robert J Aumann, 1999. "Agreeing to Disagree," Levine's Working Paper Archive 512, David K. Levine.
  8. Ma Jinpeng, 1995. "Stable Matchings and Rematching-Proof Equilibria in a Two-Sided Matching Market," Journal of Economic Theory, Elsevier, vol. 66(2), pages 352-369, August.
  9. Crawford, Vincent P., 1991. "Comparative statics in matching markets," Journal of Economic Theory, Elsevier, vol. 54(2), pages 389-400, August.
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Citations

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Cited by:
  1. Qingmin Liu & George J. Mailath & Andrew Postlewaite & Larry Samuelson, 2012. "Matching with Incomplete Information," Levine's Working Paper Archive 786969000000000551, David K. Levine.
  2. Siegel, Ron & Ely, Jeffrey C., 2013. "Adverse selection and unraveling in common-value labor markets," Theoretical Economics, Econometric Society, vol. 8(3), September.
  3. Robin S. Lee & Michael Schwarz, 2009. "Interviewing in Two-Sided Matching Markets," NBER Working Papers 14922, National Bureau of Economic Research, Inc.
  4. Qingmin Liu & George J. Mailath & Andrew Postlewaite & Larry Samuelson, 2010. "Stable Matching with Incomplete Information, Second Version," PIER Working Paper Archive 12-042, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 28 Oct 2012.
  5. Oğuz Afacan, Mustafa, 2012. "Group robust stability in matching markets," Games and Economic Behavior, Elsevier, vol. 74(1), pages 394-398.
  6. Jens Josephson & Joel Shapiro, 2008. "Interviews and adverse selection," Economics Working Papers 1093, Department of Economics and Business, Universitat Pompeu Fabra.
  7. M. Bumin Yenmez, 2013. "Incentive-Compatible Matching Mechanisms: Consistency with Various Stability Notions," American Economic Journal: Microeconomics, American Economic Association, vol. 5(4), pages 120-41, November.
  8. Antonio Nicolò & Carmelo Rodríguez-Álvarez, 2013. "Incentive compatibility and feasibility constraints in housing markets," Social Choice and Welfare, Springer, vol. 41(3), pages 625-635, September.
  9. Pereyra, Juan Sebastián, 2013. "A dynamic school choice model," Games and Economic Behavior, Elsevier, vol. 80(C), pages 100-114.
  10. Lee, Sam-Ho, 2009. "A theory of self-selection in a market with matching frictions: An application to delay in refereeing times in economics journals," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 344-360, October.
  11. Ennio Bilancini & Leonardo Boncinelli, 2014. "Disclosure of information in matching markets with non-transferable utility," Center for Economic Research (RECent) 094, University of Modena and Reggio E., Dept. of Economics.
  12. Mustafa Oguz Afacan, 2010. "Group Robust Stability in Matching Markets," Discussion Papers 09-019, Stanford Institute for Economic Policy Research.
  13. Kojima, Fuhito, 2011. "Robust stability in matching markets," Theoretical Economics, Econometric Society, vol. 6(2), May.

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