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Matching with Contracts: The Critical Role of Irrelevance of Rejected Contracts

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  • Orhan Aygün

    ()
    (Boston College)

  • Tayfun Sönmez

    ()
    (Boston College)

Abstract

We show that an ambiguity in setting the primitives of the matching with contracts model by Hatfield and Milgrom (2005) has serious implications for the model. Of the two ways to clear the ambiguity, the first (and what we consider more "clean") remedy renders several of the results of the paper invalid in the absence of an additional irrelevance of removed contracts condition implicitly assumed throughout the paper, whereas the second remedy results in the lack of transparency in presentation of results while at the same time reducing the scope of the analysis with no clear benefit.

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Bibliographic Info

Paper provided by Boston College Department of Economics in its series Boston College Working Papers in Economics with number 804.

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Date of creation: 31 May 2012
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Handle: RePEc:boc:bocoec:804

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Related research

Keywords: Matching with Contracts; Stability; Market Design;

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References

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  1. Ahmet Alkan, 2002. "A class of multipartner matching markets with a strong lattice structure," Economic Theory, Springer, vol. 19(4), pages 737-746.
  2. Tayfun Sönmez, 2011. "Bidding for Army Career Specialties: Improving the ROTC Branching Mechanism," Boston College Working Papers in Economics 783, Boston College Department of Economics.
  3. 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.
  4. Federico Echenique, 2012. "Contracts versus Salaries in Matching," American Economic Review, American Economic Association, vol. 102(1), pages 594-601, February.
  5. Tayfun Sönmez & Tobias B. Switzer, 2011. "Matching with (Branch-of-Choice) Contracts at United States Military Academy," Boston College Working Papers in Economics 782, Boston College Department of Economics.
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Cited by:
  1. Orhan Aygün & Tayfun Sönmez, 2012. "The Importance of Irrelevance of Rejected Contracts in Matching under Weakened Substitutes Conditions," Boston College Working Papers in Economics 805, Boston College Department of Economics.
  2. Orhan Ayg?n & Tayfun S?nmez, 2013. "Matching with Contracts: Comment," American Economic Review, American Economic Association, vol. 103(5), pages 2050-51, August.
  3. Aziz, Haris & Brill, Markus & Harrenstein, Paul, 2013. "Testing substitutability of weak preferences," Mathematical Social Sciences, Elsevier, vol. 66(1), pages 91-94.

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