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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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References

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  1. Muriel Niederle & Alvin E. Roth, 2004. "Market Culture: How Norms Governing Exploding Offers Affect Market Performance," Levine's Bibliography 122247000000000207, UCLA Department of Economics.
  2. Eugene Choo & Aloysius Siow, 2006. "Who Marries Whom and Why," Journal of Political Economy, University of Chicago Press, vol. 114(1), pages 175-201, February.
  3. Shimer, R. & Smith, L., 1998. "Assortive Matching and Search," Papers 98-09, Michigan - Center for Research on Economic & Social Theory.
  4. Roth, Alvin, 2008. "What Have We Learned from Market Design?," Scholarly Articles 2579650, Harvard University Department of Economics.
  5. 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.
  6. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541 Elsevier.
  7. M.Utku Unver, 2004. "Unraveling Yields Inefficient Matching: Evidence from Post-Season College Football Bowls," Working Papers 259, University of Pittsburgh, Department of Economics, revised Jan 2004.
  8. Simon Clark, 2006. "The Uniqueness of Stable Matchings," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 0(1), pages 8.
  9. Guillaume Haeringer & Myrna Wooders, 2011. "Decentralized job matching," International Journal of Game Theory, Springer, vol. 40(1), pages 1-28, February.
  10. Pais, Joana, 2008. "Incentives in decentralized random matching markets," Games and Economic Behavior, Elsevier, vol. 64(2), pages 632-649, November.
  11. Soohyung Lee, 2008. "Preferences and Choice Constraints in Marital Sorting: Evidence From Korea," Discussion Papers 07-042, Stanford Institute for Economic Policy Research.
  12. Jan Eeckhout, 1996. "Bilateral Search and Vertical Heterogeneity," STICERD - Theoretical Economics Paper Series 315, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  13. José Alcalde Pérez & Antonio Romero-Medina, 1996. "Simple mechanisms to implement the core of college admissions problems," Working Papers. Serie AD 1996-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  14. 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.
  15. Konishi, Hideo & Sapozhnikov, Margarita, 2008. "Decentralized matching markets with endogenous salaries," Games and Economic Behavior, Elsevier, vol. 64(1), pages 193-218, September.
  16. 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.
  17. 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.
  18. Burdett, Ken & Coles, Melvyn G, 1997. "Marriage and Class," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 141-68, February.
  19. Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November.
  20. Jeremy T. Fox, 2008. "Estimating Matching Games with Transfers," NBER Working Papers 14382, National Bureau of Economic Research, Inc.
  21. Muriel Niederle & Alvin E. Roth, 2009. "Market Culture: How Rules Governing Exploding Offers Affect Market Performance," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 199-219, August.
  22. 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.
  23. Eeckhout, Jan, 2000. "On the uniqueness of stable marriage matchings," Economics Letters, Elsevier, vol. 69(1), pages 1-8, October.
  24. 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.
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Cited by:
  1. Guillaume Haeringer & Myrna Wooders, 2003. "Decentralised Job Matching," Working Papers 2003.114, Fondazione Eni Enrico Mattei.
  2. Alvin E. Roth, 2010. "Marketplace Institutions Related to the Timing of Transactions," NBER Working Papers 16556, National Bureau of Economic Research, Inc.

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