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Von Neumann-Morgenstern Farsightedly Stable Sets in Two-Sided Matching

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  • Vincent Vannetelbosch

    (CORE University of Louvain)

  • Ana Mauleon

    (CORE, University of Louvain)

  • Wouter Vergote

    (CEREC, Facultés Universitaires Saint-Louis, and CORE, University of Louvain)

Abstract

We adopt the notion of von Neumann-Morgenstern farsightedly stable sets to predict which matchings are possibly stable when agents are farsighted in one-to-one matching problems. We provide the characterization of von Neumann-Morgenstern farsightedly stable sets: a set of matchings is a von Neumann-Morgenstern farsightedly stable set if and only if it is a singleton set and its element is a corewise stable matching. Thus, contrary to the von Neumann-Morgenstern (myopically) stable sets, von Neumann-Morgenstern farsightedly stable sets cannot include matchings that are not corewise stable ones. Moreover, we show that our main result is robust to many- to-one matching problems with responsive preferences.

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Bibliographic Info

Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2008.29.

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Date of creation: Mar 2008
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Handle: RePEc:fem:femwpa:2008.29

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Keywords: Matching Problem; von Neumann-Morgenstern Stable Sets; Farsighted Stability;

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  1. Sotomayor, Marilda, 1996. "A Non-constructive Elementary Proof of the Existence of Stable Marriages," Games and Economic Behavior, Elsevier, vol. 13(1), pages 135-137, March.
  2. Herings, P. Jean-Jacques & Mauleon, Ana & Vannetelbosch, Vincent J., 2004. "Rationalizability for social environments," Games and Economic Behavior, Elsevier, vol. 49(1), pages 135-156, October.
  3. EHLERS, Lars, 2005. "Von Neumann-Morgenstern Stable Sets in Matching Problems," Cahiers de recherche 2005-11, Universite de Montreal, Departement de sciences economiques.
  4. Jackson, Matthew O., 1998. "The Evolution of Social and Economic Networks," Working Papers 1044, California Institute of Technology, Division of the Humanities and Social Sciences.
  5. Zhou Lin, 1994. "A New Bargaining Set of an N-Person Game and Endogenous Coalition Formation," Games and Economic Behavior, Elsevier, vol. 6(3), pages 512-526, May.
  6. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541 Elsevier.
  7. 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.
  8. Klijn, F. & Masso, J., 1999. "Weak Stability and a Bargaining Set for the Marriage Model," Discussion Paper 1999-114, Tilburg University, Center for Economic Research.
  9. Effrosyni Diamantoudi & Licun Xue, 2003. "Farsighted stability in hedonic games," Social Choice and Welfare, Springer, vol. 21(1), pages 39-61, 08.
  10. Licun Xue, 1998. "Coalitional stability under perfect foresight," Economic Theory, Springer, vol. 11(3), pages 603-627.
  11. John C. Harsanyi, 1974. "An Equilibrium-Point Interpretation of Stable Sets and a Proposed Alternative Definition," Management Science, INFORMS, vol. 20(11), pages 1472-1495, July.
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Cited by:
  1. Anindya Bhattacharya & Victoria Brosi, 2011. "An existence result for farsighted stable sets of games in characteristic function form," International Journal of Game Theory, Springer, vol. 40(2), pages 393-401, May.
  2. MAULEON, Ana & MOLIS, Elena & VANNETELBOSCH, Vincent & VERGOTE , Wouter, 2013. "Dominance invariant one-to-one matching problems," CORE Discussion Papers 2013052, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Bettina-Elisabeth Klaus & Flip Klijn & Markus Walzl, 2009. "Farsighted Stability for Roommate Markets," Harvard Business School Working Papers 09-135, Harvard Business School.
  4. Debraj Ray & Rajiv Vohra, 2013. "Coalition Formation," Working Papers 2013-1, Brown University, Department of Economics.
  5. MAULEON, Ana & MOLIS, Elena & VANNETELBOSCH, Vincent & VERGOTE, Wouter, 2011. "Absolutely stable roommate problems," CORE Discussion Papers 2011029, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Debraj Ray & Rajiv Vohra, 2013. "The Farsighted Stable Set," Working Papers 2013-11, Brown University, Department of Economics.

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