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Decentralized Matching with Aligned Preferences

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  • Muriel Niederle
  • Leeat Yariv

Abstract

We study a simple model of a decentralized market game in which firms make directed offers to workers. We focus on markets in which agents have aligned preferences. When agents have complete information or when there are no frictions in the economy, there exists an equilibrium that yields the stable match. In the presence of market frictions and preference uncertainty, harsher assumptions on the richness of the economy have to be made in order for decentralized markets to generate stable outcomes in equilibrium.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14840.

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Date of creation: Apr 2009
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Handle: RePEc:nbr:nberwo:14840

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  1. 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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  3. Eugene Choo & Aloysius Siow, 2006. "Who Marries Whom and Why," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 114(1), pages 175-201, February.
  4. Alvin E. Roth, 2008. "What Have We Learned from Market Design?," Innovations: Technology, Governance, Globalization, MIT Press, vol. 3(1), pages 119-147, January.
  5. Muriel Niederle & Alvin E. Roth, 2004. "Market Culture: How Norms Governing Exploding Offers Affect Market Performance," Levine's Bibliography 122247000000000207, UCLA Department of Economics.
  6. Clark Simon, 2006. "The Uniqueness of Stable Matchings," The B.E. Journal of Theoretical Economics, De Gruyter, De Gruyter, vol. 6(1), pages 1-28, December.
  7. Guillaume Haeringer & Myrna Wooders, 2003. "Decentralised Job Matching," Working Papers 2003.114, Fondazione Eni Enrico Mattei.
  8. Alcalde, Jose & Romero-Medina, Antonio, 2000. "Simple Mechanisms to Implement the Core of College Admissions Problems," Games and Economic Behavior, Elsevier, vol. 31(2), pages 294-302, May.
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  10. Jan Eeckhout, 1996. "Bilateral Search and Vertical Heterogeneity," STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE /1996/315, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  11. Guillaume Frechette & Alvin E. Roth & M. Utku Ãœnver, 2004. "Unraveling Yields Inefficient Matchings: Evidence from Post- Season College Football Bowls," Microeconomics, EconWPA 0404001, EconWPA, revised 24 Sep 2004.
  12. Alcalde, Jose & Perez-Castrillo, David & Romero-Medina, Antonio, 1998. "Hiring Procedures to Implement Stable Allocations," Journal of Economic Theory, Elsevier, vol. 82(2), pages 469-480, October.
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  14. Soohyung Lee, 2008. "Preferences and Choice Constraints in Marital Sorting: Evidence From Korea," Discussion Papers, Stanford Institute for Economic Policy Research 07-042, Stanford Institute for Economic Policy Research.
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  16. Niederle, Muriel & Roth, Alvin E., 2009. "Market Culture: How Rules Governing Exploding Offers Affect Market Performance," Scholarly Articles 11077571, Harvard University Department of Economics.
  17. 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, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  18. Muriel Niederle & Alvin E Roth, 2003. "Unraveling Reduces Mobility in a Labor Market: Gastroenterology with and without a Centralized Match," Levine's Working Paper Archive 506439000000000428, David K. Levine.
  19. Günter Hitsch & Ali Hortaçsu & Dan Ariely, 2010. "What makes you click?—Mate preferences in online dating," Quantitative Marketing and Economics, Springer, vol. 8(4), pages 393-427, December.
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  21. Konishi, Hideo & Sapozhnikov, Margarita, 2008. "Decentralized matching markets with endogenous salaries," Games and Economic Behavior, Elsevier, vol. 64(1), pages 193-218, September.
  22. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, Elsevier, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541 Elsevier.
  23. Pais, Joana, 2008. "Incentives in decentralized random matching markets," Games and Economic Behavior, Elsevier, vol. 64(2), pages 632-649, November.
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Citations

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Cited by:
  1. Guillaume Haeringer & Myrna Wooders, 2003. "Decentralized job matching," Working Papers 40, Barcelona Graduate School of Economics.
  2. Coles, Peter Andrew & Levine, Phillip B. & Roth, Alvin E. & Cawley, John & Niederle, Muriel & Siegfried, John J., 2010. "The Job Market for New Economists: A Market Design Perspective," Scholarly Articles 5343168, Harvard University Department of Economics.
  3. Alvin E. Roth, 2010. "Marketplace Institutions Related to the Timing of Transactions," NBER Working Papers 16556, National Bureau of Economic Research, Inc.
  4. Nikhil Agarwal & William Diamond, 2013. "Identification and Estimation in Two-Sided Matching Markets," Cowles Foundation Discussion Papers 1905, Cowles Foundation for Research in Economics, Yale University, revised Feb 2014.

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