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Preference Structure and Random Paths to Stability in Matching Markets

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  • James W. Boudreau

    (University of Connecticut)

Abstract

This paper examines how preference correlation and intercorrelation combine to influence the length of a decentralized matching market's path to stability. In simulated experiments, marriage markets with various preference specifications begin at an arbitrary matching of couples and proceed toward stability via the random mechanism proposed by Roth and Vande Vate (1990). The results of these experiments reveal that fundamental preference characteristics are critical in predicting how long the market will take to reach a stable matching. In particular, intercorrelation and correlation are shown to have an exponential impact on the number of blocking pairs that must be randomly satisfied before stability is attained. The magnitude of the impact is dramatically different, however, depending on whether preferences are positively or negatively intercorrelated.

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Bibliographic Info

Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 2008-29.

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Length: 17 pages
Date of creation: Aug 2008
Date of revision:
Handle: RePEc:uct:uconnp:2008-29

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Web page: http://www.econ.uconn.edu/
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Keywords: Marriage matching; stability; random paths.;

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References

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  1. James W. Boudreau & Vicki Knoblauch, 2008. "Marriage Matching and Intercorrelation of Preferences," Working papers 2008-27, University of Connecticut, Department of Economics.
  2. Onur B. Celik & Vicki Knoblauch, 2007. "Marriage Matching with Correlated Preferences," Working papers 2007-16, University of Connecticut, Department of Economics.
  3. Alvin E. Roth & Elliott Peranson, 1999. "The Redesign of the Matching Market for American Physicians: Some Engineering Aspects of Economic Design," NBER Working Papers 6963, National Bureau of Economic Research, Inc.
  4. Jan Eeckhout, 1996. "Bilateral Search and Vertical Heterogeneity," STICERD - Theoretical Economics Paper Series /1996/315, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  5. Roth,Alvin E. & Sotomayor,Marilda A. Oliveira, 1992. "Two-Sided Matching," Cambridge Books, Cambridge University Press, number 9780521437882, April.
  6. Bettina Klaus & Flip Klijn, 2004. "Paths to Stability for Matching Markets with Couples," UFAE and IAE Working Papers 604.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC), revised 01 Dec 2005.
  7. Roth, Alvin, 2008. "Deferred Acceptance Algorithms: History, Theory, Practice, and Open Questions," Scholarly Articles 2579651, Harvard University Department of Economics.
  8. Roth, Alvin E & Vande Vate, John H, 1990. "Random Paths to Stability in Two-Sided Matching," Econometrica, Econometric Society, vol. 58(6), pages 1475-80, November.
  9. Kimmo Eriksson & Olle Häggström, 2008. "Instability of matchings in decentralized markets with various preference structures," International Journal of Game Theory, Springer, vol. 36(3), pages 409-420, March.
  10. Pathak, Parag A. & Abdulkadiroglu, Atila & Roth, Alvin, 2005. "The New York City High School Match," Scholarly Articles 2562765, Harvard University Department of Economics.
  11. Vicki Knoblauch, 2009. "Marriage matching and gender satisfaction," Social Choice and Welfare, Springer, vol. 32(1), pages 15-27, January.
  12. M.Utku Unver & Fuhito Kojima, 2006. "Random Paths to Pairwise Stability in Many-to-Many Matching Problems: A Study on Market Equilibration," Working Papers 256, University of Pittsburgh, Department of Economics, revised Jan 2006.
  13. Chung-Piaw Teo & Jay Sethuraman & Wee-Peng Tan, 2001. "Gale-Shapley Stable Marriage Problem Revisited: Strategic Issues and Applications," Management Science, INFORMS, vol. 47(9), pages 1252-1267, September.
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Cited by:
  1. James Boudreau & Vicki Knoblauch, 2013. "Preferences and the price of stability in matching markets," Theory and Decision, Springer, vol. 74(4), pages 565-589, April.
  2. Péter Biró & Gethin Norman, 2013. "Analysis of stochastic matching markets," International Journal of Game Theory, Springer, vol. 42(4), pages 1021-1040, November.

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