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Random matching in the college admissions problem

  • Joana Pais

    ()

In the college admissions problem, we consider the incentives confronting agents who face the prospect of being matched by a random stable mechanism. We provide a fairly complete characterization of ordinal equilbria. Namely, every ordinal equilib- rium yields a degenerate probability distribution. Furthermore, individual rationality is a necessary and sufficient condition for an equilibrium outcome, while stability is guaranteed in ordinal equilibrium where firms act straightforwardly. Finally, we re- late equilibrium behavior in random and in deterministic mechanisms.

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File URL: http://hdl.handle.net/10.1007/s00199-006-0191-6
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Article provided by Springer in its journal Economic Theory.

Volume (Year): 35 (2008)
Issue (Month): 1 (April)
Pages: 99-116

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Handle: RePEc:spr:joecth:v:35:y:2008:i:1:p:99-116
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  1. Moulin, HervÈ, 1997. "Procedural cum Endstate Justice: An Implementation Viewpoint," Working Papers 97-17, Duke University, Department of Economics.
  2. Pais, Joana, 2008. "Incentives in decentralized random matching markets," Games and Economic Behavior, Elsevier, vol. 64(2), pages 632-649, November.
  3. 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.
  4. Ehlers, Lars & Masso, Jordi, 2007. "Incomplete information and singleton cores in matching markets," Journal of Economic Theory, Elsevier, vol. 136(1), pages 587-600, September.
  5. Dipjyoti Majumdar, 2003. "Ordinally Bayesian Incentive Compatible Stable Matchings," Working Papers 05001, Concordia University, Department of Economics.
  6. Joana Pais, 2006. "On Random Matching Markets: Properties and Equilibria," Working Papers Department of Economics 2006/11, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  7. Abdulkadiroglu, Atila & Sonmez, Tayfun, 1999. "House Allocation with Existing Tenants," Journal of Economic Theory, Elsevier, vol. 88(2), pages 233-260, October.
  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. Roth, Alvin E & Vande Vate, John H, 1991. "Incentives in Two-Sided Matching with Random Stable Mechanisms," Economic Theory, Springer, vol. 1(1), pages 31-44, January.
  10. d'ASPREMONT, Claude & PELEG, Bezalel, . "Ordinal Bayesian incentive compatible representations of committees," CORE Discussion Papers RP 808, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Herve Moulin, 2004. "Fair Division and Collective Welfare," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633116, June.
  12. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  13. Dipjyoti Majumdar & Arunava Sen, 2004. "Ordinally Bayesian Incentive Compatible Voting Rules," Econometrica, Econometric Society, vol. 72(2), pages 523-540, 03.
  14. Roth, Alvin E., 1985. "The college admissions problem is not equivalent to the marriage problem," Journal of Economic Theory, Elsevier, vol. 36(2), pages 277-288, August.
  15. 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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