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On Random Matching Markets: Properties and Equilibria

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Author Info
Joana Pais

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Abstract

We consider centralized matching markets in which, starting from an arbitrary match- ing, frms are successively chosen in a random fashion and offer their positions to the workers they prefer the most. We propose an algorithm that generalizes some well-known algorithms and explore some of its properties. In particular, different executions of the algorithm may lead to different output matchings. We then study incentives in the rev- elation game induced by the algorithm. We prove that ordinal equilibria always exist. Furthermore, every matching that results from an equilibrium play of the game is stable for a particular preference profile. Namely, if an ordinal equilibrium exists in which firms reveal their true preferences, only matchings that are stable for the true preferences can be obtained.

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Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2006/11.

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Date of creation: 2006
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Handle: RePEc:ise:isegwp:wp112006

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Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

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Related research
Keywords: Matching Markets; Stability; Random Mechanism.;

Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. EHLERS, Lars, 2003. "In Search of Advice for Physicians in Entry-Level Medical Markets," Cahiers de recherche 13-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ. [Downloadable!]
    Other versions:
  2. 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. [Downloadable!] (restricted)
  3. Joana Pais, 2006. "Incentives in Decentralized Random Matching Markets," Working Papers 2006/12, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
  4. Blum, Yosef & Roth, Alvin E. & Rothblum, Uriel G., 1997. "Vacancy Chains and Equilibration in Senior-Level Labor Markets," Journal of Economic Theory, Elsevier, vol. 76(2), pages 362-411, October. [Downloadable!] (restricted)
  5. Alvin E. Roth & Uriel G. Rothblum, 1999. "Truncation Strategies in Matching Markets--In Search of Advice for Participants," Econometrica, Econometric Society, vol. 67(1), pages 21-44, January.
  6. Ehlers, Lars & Masso, Jordi, 2007. "Incomplete information and singleton cores in matching markets," Journal of Economic Theory, Elsevier, vol. 136(1), pages 587-600, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Joana Pais, 2008. "Random matching in the college admissions problem," Economic Theory, Springer, vol. 35(1), pages 99-116, April. [Downloadable!] (restricted)
    Other versions:
  2. Matteo Triossi & Antonio Romero-Medina, 2006. "Ramón y Cajal: Mediation and Meritocracy," Carlo Alberto Notebooks 22, Collegio Carlo Alberto. [Downloadable!]
  3. Joana Pais, 2006. "Incentives in Decentralized Random Matching Markets," Working Papers 2006/12, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
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