Stable Matching with Incomplete Information, Second Version
AbstractWe formulate a notion of stable outcomes in matching problems with one-sided asymmetric information. The key conceptual problem is to formulate a notion of a blocking pair that takes account of the inferences that the uninformed agent might make. We show that the set of stable outcomes is nonempty in incomplete-information environments, and is a superset of the set of complete-information stable outcomes. We then provide sufficient conditions for incomplete-information stable matchings to be efficient. Lastly, we define a notion of price-sustainable allocations and show that the set of incomplete-information stable matchings is a subset of the set of such allocations.
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Bibliographic InfoPaper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 13-028.
Length: 73 pages
Date of creation: 26 Aug 2012
Date of revision: 17 Jun 2013
Matching; Stability; Stable outcome; Incomplete information; Core;
Other versions of this item:
- Qingmin Liu & George J. Mailath & Andrew Postlewaite & Larry Samuelson, 2010. "Stable Matching with Incomplete Information, Second Version," PIER Working Paper Archive 12-042, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 28 Oct 2012.
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D - Microeconomics
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