The law of aggregate demand and welfare in the two-sided matching market
In the college admission problem, we show that the student-optimal stable matching is weakly Pareto optimal for students if colleges' preferences satisfy substitutability and the law of aggregate demand. We also show that both of these properties are important for the result.
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References listed on IDEAS
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- Paul Milgrom, 2003.
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- Ruth Mart?ez & Jordi MassóAuthor-Email: email@example.com & Alejandro Neme & Jorge Oviedo, 2003.
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UFAE and IAE Working Papers
577.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Ruth Martínez & Jordi Massó & Alejdanro Neme & Jorge Oviedo, 2004. "On group strategy-proof mechanisms for a many-to-one matching model," International Journal of Game Theory, Springer;Game Theory Society, vol. 33(1), pages 115-128, January.
- Atila Abdulkadiroğlu, 2005. "College admissions with affirmative action," International Journal of Game Theory, Springer;Game Theory Society, vol. 33(4), pages 535-549, November.
- Balinski, Michel & Sonmez, Tayfun, 1999. "A Tale of Two Mechanisms: Student Placement," Journal of Economic Theory, Elsevier, vol. 84(1), pages 73-94, January.
- Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November.
- Tayfun Sönmez & M. Utku Ünver, 2005.
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- repec:pit:wpaper:257 is not listed on IDEAS
- Atila Abdulkadiroglu & Tayfun Sönmez, 2003. "School Choice: A Mechanism Design Approach," American Economic Review, American Economic Association, vol. 93(3), pages 729-747, June.
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