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Stable Many-to-Many Matchings with Contracts

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Author Info

  • Bettina-Elisabeth Klaus

    () (Harvard Business School, Negotiation, Organizations & Markets Unit)

  • Markus Walzl

    () (School of Economics and Management, Free University of Bozen/Bolzano, Italy)

Abstract

We consider several notions of setwise stability for many-to-many matching markets with contracts and provide an analysis of the relations between the resulting sets of stable allocations for general, substitutable, and strongly substitutable preferences. Apart from obtaining "set inclusion results" on all three domains, we introduce weak setwise stability as a new stability concept and prove that for substitutable preferences the set of pairwise stable matchings is nonempty and coincides with the set of weakly setwise stable matchings. For strongly substitutable preferences the set of pairwise stable matchings coincides with the set of setwise stable matchings.

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File URL: http://www.hbs.edu/research/pdf/09-046.pdf
File Function: Revised version, September 2008
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Bibliographic Info

Paper provided by Harvard Business School in its series Harvard Business School Working Papers with number 09-046.

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Length: 25 pages
Date of creation: Aug 2007
Date of revision: Sep 2008
Handle: RePEc:hbs:wpaper:09-046

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Related research

Keywords: Many-to-Many Matching; Matching with Contracts; Pairwise Stability; Setwise Stability.;

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References

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  1. Bettina Klaus & Flip Klijn, 2004. "Stable Matchings and Preferences of Couples," Working Papers 117, Barcelona Graduate School of Economics.
  2. Martine Labbé & Patrice Marcotte & Gilles Savard, 1998. "A Bilevel Model of Taxation and Its Application to Optimal Highway Pricing," Management Science, INFORMS, vol. 44(12-Part-1), pages 1608-1622, December.
  3. 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.
  4. Hideo Konishi & M. Utku Ünver, 2003. "Credible Group Stability in Many-to-Many Matching Problems," Game Theory and Information 0309005, EconWPA, revised 06 Sep 2003.
  5. Bettina-Elisabeth Klaus & Markus Walzl, 2007. "Stable Many-to-Many Matchings with Contracts," Harvard Business School Working Papers 09-046, Harvard Business School, revised Sep 2008.
  6. Bettina Klaus & Flip Klijn, 2005. "Corrigendum: Stable Matchings and Preferences of Couples," UFAE and IAE Working Papers 653.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  7. Echenique, Federico & Oviedo, Jorge, 2003. "A Theory of Stability in Many-to-Many Matching Markets," Working Papers 1185, California Institute of Technology, Division of the Humanities and Social Sciences.
  8. Roth, Alvin E, 1984. "Stability and Polarization of Interests in Job Matching," Econometrica, Econometric Society, vol. 52(1), pages 47-57, January.
  9. Paul Milgrom, 2003. "Matching with Contracts," Working Papers 03003, Stanford University, Department of Economics.
  10. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  11. Roth, Alvin E, 1986. "On the Allocation of Residents to Rural Hospitals: A General Property of Two-Sided Matching Markets," Econometrica, Econometric Society, vol. 54(2), pages 425-27, March.
  12. Sotomayor, Marilda, 1999. "Three remarks on the many-to-many stable matching problem," Mathematical Social Sciences, Elsevier, vol. 38(1), pages 55-70, July.
  13. Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November.
  14. Roth, Alvin E, 1991. "A Natural Experiment in the Organization of Entry-Level Labor Markets: Regional Markets for New Physicians and Surgeons in the United Kingdom," American Economic Review, American Economic Association, vol. 81(3), pages 415-40, June.
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Cited by:
  1. Haake, Claus-Jochen & Klaus, Bettina, 2009. "Monotonicity and Nash implementation in matching markets with contracts," Open Access publications from Maastricht University urn:nbn:nl:ui:27-20022, Maastricht University.
  2. Bettina-Elisabeth Klaus & Markus Walzl, 2007. "Stable Many-to-Many Matchings with Contracts," Harvard Business School Working Papers 09-046, Harvard Business School, revised Sep 2008.
  3. Paula Jaramillo & Çagatay Kayi & Flip Klijn, 2012. "On the Exhaustiveness of Truncation and Dropping Strategies in Many-to-Many Matching Markets," Working Papers 632, Barcelona Graduate School of Economics.
  4. Westkamp, Alexander, 2010. "Market structure and matching with contracts," Journal of Economic Theory, Elsevier, vol. 145(5), pages 1724-1738, September.

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