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In Search of Advice for Physicians in Entry-Level Medical Markets

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  • EHLERS, Lars

Abstract

We consider entry-level medical markets for physicians in the United Kingdom. These markets experienced failures which led to the adoption of centralized market mechanisms in the 1960's. However, different regions introduced different centralized mechanisms. We advise physicians who do not have detailed information about the rank-order lists submitted by the other participants. We demonstrate that in each of these markets in a low information environment it is not beneficial to reverse the true ranking of any two acceptable hospital positions. We further show that (i) in the Edinburgh 1967 market, ranking unacceptable matches as acceptable is not profitable for any participant and (ii) in any other British entry-level medical market, it is possible that only strategies which rank unacceptable positions as acceptable are optimal for a physician.

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File URL: http://hdl.handle.net/1866/504
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Bibliographic Info

Paper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 2003-15.

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Length: 29 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:mtl:montde:2003-15

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Keywords: Matching Market; Incomete Information;

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References

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  1. 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.
  2. 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.
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Cited by:
  1. Joana Pais & Ágnes Pintér, 2006. "School Choice and Information An Experimental Study on Matching Mechanisms," Working Papers Department of Economics 2006/14, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  2. Lars Ehlers & Jordi Massó, 2004. "Incomplete Information and Small Cores in Matching Markets," UFAE and IAE Working Papers 637.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  3. Joana Pais & Agnes Pinter & Robert F. Veszteg, 2008. "College admissions and the role of information : an experimental study," Economics Working Papers we080302, Universidad Carlos III, Departamento de Economía.
  4. Joana Pais, 2006. "On Random Matching Markets: Properties and Equilibria," Working Papers Department of Economics 2006/11, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.

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