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On the survival of some unstable two-sided matching mechanisms

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  • M. Utku Ünver

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Abstract

In the 1960s, three types of matching mechanisms were adopted in regional entry-level British medical labor markets to prevent unraveling of contract dates. One of these categories of matching mechanisms failed to prevent unraveling. Roth (1991) showed the instability of that failing category. One of the surviving categories was unstable as well, and Roth concluded that features of the environments of these mechanisms are responsible for their survival. However, Ãœnver (2001) demonstrated that the successful yet unstable mechanisms performed better in preventing unraveling than the unsuccessful and unstable category in an artificial-adaptive-agent-based economy. In this paper, we conduct a human subject experiment in addition to short- and long-run artificial agent simulations to understand this puzzle. We find that both the unsuccessful and unstable mechanism and the successful and unstable mechanism perform poorly in preventing unraveling in the experiment and in short-run simulations, while long-run simulations support the previous Ãœnver finding.

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File URL: http://hdl.handle.net/10.1007/s001820400196
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Bibliographic Info

Article provided by Springer in its journal International Journal of Game Theory.

Volume (Year): 33 (2005)
Issue (Month): 2 (06)
Pages: 239-254

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Handle: RePEc:spr:jogath:v:33:y:2005:i:2:p:239-254

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Related research

Keywords: C92; C78; C68; C63; I11; J44; Matching; Experiment; Unraveling; Hospital-intern markets; Genetic algorithm;

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Cited by:
  1. Carrillo, Juan D & Singhal, Saurabh, 2011. "Tiered Housing Allocation: an Experimental Analysis," CEPR Discussion Papers 8255, C.E.P.R. Discussion Papers.
  2. Boudreau, James W. & Knoblauch, Vicki, 2014. "What price stability? Social welfare in matching markets," Mathematical Social Sciences, Elsevier, vol. 67(C), pages 27-33.
  3. Joana Pais & Agnes Pinter & Robert F. Veszteg, 2008. "College Admissions and the Role of Information: An Experimental Study," ISER Discussion Paper 0707, Institute of Social and Economic Research, Osaka University.
  4. Yan Chen & Tayfun S�nmez, 2002. "Improving Efficiency of On-Campus Housing: An Experimental Study," American Economic Review, American Economic Association, vol. 92(5), pages 1669-1686, December.
  5. John Duffy, 2004. "Agent-Based Models and Human Subject Experiments," Computational Economics, EconWPA 0412001, EconWPA.
  6. Muriel Niederle & Alvin E. Roth & M. Utku Ãœnver, 2013. "Unraveling Results from Comparable Demand and Supply: An Experimental Investigation," Games, MDPI, Open Access Journal, MDPI, Open Access Journal, vol. 4(2), pages 243-282, June.
  7. Pais, Joana & Pintér, Ágnes, 2008. "School choice and information: An experimental study on matching mechanisms," Games and Economic Behavior, Elsevier, vol. 64(1), pages 303-328, September.
  8. Juan D Carrillo & Saurabh Singhal, 2011. "Tiered Housing Allocation: an Experimental Analysis," Working Paper 8511, USC Lusk Center for Real Estate.

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