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Stochastic Stability for Roommate Markets

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Author Info
Klaus, Bettina
Klijn, Flip
Walzl, Markus (METEOR)

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Abstract

We show that for any roommate market the set of stochastically stable matchings coincideswith the set of absorbing matchings. This implies that whenever the core is non-empty (e.g.,for marriage markets), a matching is in the core if and only if it is stochastically stable, i.e., stochastic stability is a characteristic of the core. Several solution concepts have beenproposed to extend the core to all roommate markets (including those with an empty core).An important implication of our results is that the set of absorbing matchings is the onlysolution concept that is core consistent and shares the stochastic stability characteristic withthe core.

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Paper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 010.

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Date of creation: 2008
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Handle: RePEc:dgr:umamet:2008010

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Keywords: Economics (Jel: A);

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  1. Tayfun Sönmez & Suryapratim Banerjee & Hideo Konishi, 2001. "Core in a simple coalition formation game," Social Choice and Welfare, Springer, vol. 18(1), pages 135-153. [Downloadable!] (restricted)
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  2. 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. [Downloadable!] (restricted)
  3. Diamantoudi, Effrosyni & Miyagawa, Eiichi & Xue, Licun, 2004. "Random paths to stability in the roommate problem," Games and Economic Behavior, Elsevier, vol. 48(1), pages 18-28, July. [Downloadable!] (restricted)
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  4. Bochet, Olivier & Klaus, Bettina & Walzl, Markus, 2007. "Dynamic Recontracting processes with Multiple Indivisible Goods," Research Memoranda 018, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
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  5. E. Inarra & C. Larrea & E. Molis, 2008. "Random paths to P-stability in the roommate problem," International Journal of Game Theory, Springer, vol. 36(3), pages 461-471, March. [Downloadable!] (restricted)
  6. Klaus, Bettina & Klijn, Flip, 2008. "Smith and Rawls Share a Room: Stability and Medians," Research Memoranda 009, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
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  7. Bettina Klaus & Flip Klijn, 2007. "Smith and Rawls Share a Room," UFAE and IAE Working Papers 706.07, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
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  8. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January. [Downloadable!] (restricted)
  9. Peeters, Ronald & Vorsatz, Marc & Walzl, Markus, 2007. "Rewards in an Experimental Sender-Receiver Game," Research Memoranda 019, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
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  10. Bogomolnaia, Anna & Jackson, Matthew O., 2002. "The Stability of Hedonic Coalition Structures," Games and Economic Behavior, Elsevier, vol. 38(2), pages 201-230, February. [Downloadable!] (restricted)
  11. Fuhito Kojima & M. Ünver, 2008. "Random paths to pairwise stability in many-to-many matching problems: a study on market equilibration," International Journal of Game Theory, Springer, vol. 36(3), pages 473-488, March. [Downloadable!] (restricted)
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