A Measure to compare Matchings in Marriage Markets
AbstractIn matching markets the number of blocking pairs is often used as a criterion to compare matchings. We argue that this criterion is lacking an economic interpretation: In many circumstances it will neither reflect the expected extent of partner changes, nor will it capture the satisfaction of the players with the matching. As an alternative, we set up two principles which single out a particularly "disruptive" subcollection of blocking pairs. We propose to take the cardinality of that subset as a measure to compare matchings. This cardinality has an economic interpretation: The subset is a justified objection against the given matching according to a bargaining set characterization of the set of stable matchings. We prove multiple properties relevant for a workable measure of comparison. Keywords: Stable marriage problem, Matching, Blocking pair, Instability, Matching comparison, Decentralized market, Bargaining set
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Bibliographic InfoPaper provided by The Center for the Study of Rationality, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp575.
Length: 30 pages
Date of creation: Jun 2011
Date of revision:
Other versions of this item:
- Florian M. Biermann, 2011. "A Measure to Compare Matchings in Marriage Markets," Working Papers 2011.41, Fondazione Eni Enrico Mattei.
- Florian M. Biermann, 2011. "A Measure to compare Matchings in Marriage Markets," Working Papers 005-11, International School of Economics at TSU, Tbilisi, Republic of Georgia.
- C0 - Mathematical and Quantitative Methods - - General
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