Random matching in the college admissions problem
AbstractIn the college admissions problem, we consider the incentives confronting agents who face the prospect of being matched by a random stable mechanism. We provide a fairly complete characterization of ordinal equilbria. Namely, every ordinal equilib- rium yields a degenerate probability distribution. Furthermore, individual rationality is a necessary and sufficient condition for an equilibrium outcome, while stability is guaranteed in ordinal equilibrium where firms act straightforwardly. Finally, we re- late equilibrium behavior in random and in deterministic mechanisms.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 35 (2008)
Issue (Month): 1 (April)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
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- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
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