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Preference Structure and Random Paths to Stability in Matching Markets

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Author Info
James W. Boudreau (University of Connecticut)

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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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Publisher 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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Related research
Keywords: Marriage matching; stability; random paths.;

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods
P41 - Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform

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  1. 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. [Downloadable!] (restricted)
  2. Atila Abdulkadiroğlu & Parag A. Pathak & Alvin E. Roth, 2005. "The New York City High School Match," American Economic Review, American Economic Association, vol. 95(2), pages 364-367, May. [Downloadable!]
  3. Alvin E. Roth, 2007. "Deferred Acceptance Algorithms: History, Theory, Practice, and Open Questions," NBER Working Papers 13225, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Eeckhout, Jan, 1999. "Bilateral Search and Vertical Heterogeneity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(4), pages 869-87, November.
  5. 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. [Downloadable!] (restricted)
  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. [Downloadable!]
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  7. James W. Boudreau & Vicki Knoblauch, 2008. "Marriage Matching and Intercorrelation of Preferences," Working papers 2008-27, University of Connecticut, Department of Economics. [Downloadable!]
  8. 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. [Downloadable!] (restricted)
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  9. Onur B. Celik & Vicki Knoblauch, 2007. "Marriage Matching with Correlated Preferences," Working papers 2007-16, University of Connecticut, Department of Economics. [Downloadable!]
  10. Fuhito Kojima & M. Ünver, 2008. "Random paths to pairwise stability in many-to-many matching problems: a study on market equilibration," International Journal of Game Theory, Springer, vol. 36(3), pages 473-488, March. [Downloadable!] (restricted)
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  11. Vicki Knoblauch, 2009. "Marriage matching and gender satisfaction," Social Choice and Welfare, Springer, vol. 32(1), pages 15-27, January. [Downloadable!] (restricted)
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