Decentralized Matching Markets: A Laboratory Experiment
AbstractWe report data from controlled laboratory experiments on two-sided matching markets in which participants interact in a decentralized way, without having to refer to a central clearinghouse. Our treatments have been designed to evaluate the effect of information, search costs, and binding agreements on the final outcome and also on the individual strategies that lead to it. We find that these features affect the level and pace of market activity as well as the identity of those who receive proposals. While the lack of information alone does not reduce stability or efficiency, its combination with search costs can be detrimental.
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Bibliographic InfoPaper provided by ISEG - School of Economics and Management, Department of Economics, University of Lisbon in its series Working Papers Department of Economics with number 2012/08.
Date of creation: Feb 2012
Date of revision:
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Postal: Department of Economics, ISEG - School of Economics and Management, University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: https://aquila1.iseg.ulisboa.pt/aquila/departamentos/EC
decentralized matching; experiments; stability; two-sided matching;
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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- Newton, Jonathan & Sawa, Ryoji, 2013. "A one-shot deviation principle for stability in matching problems," Working Papers 2013-09, University of Sydney, School of Economics.
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