A Measure to compare Matchings in Marriage Markets
AbstractIn matching markets the number of blocking pairs is often used as a criterion to compare matchings. We argue that this criterion is lacking an economic interpretation: In many circumstances it will neither reflect the expected extent of partner changes, nor will it capture the satisfaction of the players with the matching. As an alternative, we set up two principles which single out a particularly "disruptive" subcollection of blocking pairs. We propose to take the cardinality of that subset as a measure to compare matchings. This cardinality has an economic interpretation: The subset is a justified objection against the given matching according to a bargaining set characterization of the set of stable matchings. We prove multiple properties relevant for a workable measure of comparison.
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Bibliographic InfoPaper provided by International School of Economics at TSU, Tbilisi, Republic of Georgia in its series Working Papers with number 005-11.
Length: 30 pages
Date of creation: Oct 2011
Date of revision:
Other versions of this item:
- Florian M. Biermann, 2011. "A Measure to compare Matchings in Marriage Markets," Discussion Paper Series dp575, The Center for the Study of Rationality, Hebrew University, Jerusalem.
- Florian M. Biermann, 2011. "A Measure to Compare Matchings in Marriage Markets," Working Papers 2011.41, Fondazione Eni Enrico Mattei.
- C0 - Mathematical and Quantitative Methods - - General
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