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Equilibrium Selection in Repeated Business-to-Business Matching Markets

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  • Ernan Haruvy

    (University of Texas at Dallas)

  • M. Utku Ünver

    (Koc University)

Abstract

A two-sided matching framework is applied to repeated business-to- business procurement matches. Both static and dynamic solutions concepts--- namely Gale-Shapley deferred acceptance algorithm, learning dynamics, and genetic algorithms--- are used to obtain solutions. The settings under investigation include both full information and limited information settings. We show that under certain conditions the dynamic predictions refine the core of the matching market. According to the theoretical predictions, organizational buyers would be better off in buyer-proposing settings than in seller-proposing settings, whereas sellers would prefer the opposite. The salience of this theoretical prediction is tested and confirmed using experimental data under different environments.

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File URL: http://128.118.178.162/eps/exp/papers/0305/0305004.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Experimental with number 0305004.

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Date of creation: 14 May 2003
Date of revision: 02 Sep 2003
Handle: RePEc:wpa:wuwpex:0305004

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  1. Roth,Alvin E. & Sotomayor,Marilda A. Oliveira, 1992. "Two-Sided Matching," Cambridge Books, Cambridge University Press, number 9780521437882.
  2. Shu-Heng Chen, John Duffy, Chia-Hsuan Yeh, . "Equilibrium Selection via Adaptation: Using Genetic Programming to Model Learning in a Coordination Game," The Electronic Journal of Evolutionary Modeling and Economic Dynamics, IFReDE - Université Montesquieu Bordeaux IV.
  3. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
  4. Arifovic, Jasmina, 1996. "The Behavior of the Exchange Rate in the Genetic Algorithm and Experimental Economies," Journal of Political Economy, University of Chicago Press, vol. 104(3), pages 510-41, June.
  5. C. Nicholas McKinney & Muriel Niederle & Alvin E. Roth, 2003. "The collapse of a medical clearinghouse (and why such failures are rare)," NBER Working Papers 9467, National Bureau of Economic Research, Inc.
  6. John H. Kagel & Alvin E. Roth, 2000. "The Dynamics Of Reorganization In Matching Markets: A Laboratory Experiment Motivated By A Natural Experiment," The Quarterly Journal of Economics, MIT Press, vol. 115(1), pages 201-235, February.
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Cited by:
  1. James W. Boudreau, 2008. "Stratification and Growth in Agent-based Matching Markets," Working papers 2008-30, University of Connecticut, Department of Economics.

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