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Unobserved Heterogeneity in Matching Games

Author

Listed:
  • Jeremy T. Fox
  • Chenyu Yang
  • David H. Hsu

Abstract

Agents in two-sided matching games vary in characteristics that are unobservable in typical data on matching markets. We investigate the identification of the distribution of unobserved characteristics using data on who matches with whom. In full generality, we consider many-to-many matching and matching with trades. The distribution of match-specific unobservables cannot be fully recovered without information on unmatched agents, but the distribution of a combination of unobservables, which we call unobserved complementarities, can be identified. Using data on unmatched agents restores identification.

Suggested Citation

  • Jeremy T. Fox & Chenyu Yang & David H. Hsu, 2018. "Unobserved Heterogeneity in Matching Games," Journal of Political Economy, University of Chicago Press, vol. 126(4), pages 1339-1373.
    • Handle: RePEc:ucp:jpolec:doi:10.1086/697740
    DOI: 10.1086/697740
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    Cited by:

    1. Gaonkar, Shweta & Mele, Angelo, 2023. "A model of inter-organizational network formation," Journal of Economic Behavior & Organization, Elsevier, vol. 214(C), pages 82-104.
    2. Guoli Chen & Sterling Huang & Philipp Meyer‐Doyle & Denisa Mindruta, 2021. "Generalist versus specialist CEOs and acquisitions: Two‐sided matching and the impact of CEO characteristics on firm outcomes," Strategic Management Journal, Wiley Blackwell, vol. 42(6), pages 1184-1214, June.
    3. Nikhil Agarwal & Eric Budish, 2021. "Market Design," NBER Working Papers 29367, National Bureau of Economic Research, Inc.
    4. Alfred Galichon & Bernard Salanié, 2023. "Structural Estimation of Matching Markets with Transferable Utility," Post-Print hal-03935865, HAL.
    5. Benjamin L. Hallen & Susan L. Cohen & Sung Ho Park, 2023. "Are seed accelerators status springboards for startups? Or sand traps?," Strategic Management Journal, Wiley Blackwell, vol. 44(8), pages 2060-2096, August.
    6. Cristina Gualdani & Shruti Sinha, 2019. "Partial Identification in Matching Models for the Marriage Market," Papers 1902.05610, arXiv.org, revised Jul 2022.
    7. Anderberg, Dan & Bagger, Jesper & Bhaskar, V. & Wilson, Tanya, 2019. "Marriage Market Equilibrium, Qualifications, and Ability," IZA Discussion Papers 12210, Institute of Labor Economics (IZA).
    8. YingHua He & Shruti Sinha & Xiaoting Sun, 2021. "Identification and Estimation in Many-to-one Two-sided Matching without Transfers," Papers 2104.02009, arXiv.org, revised Jul 2023.
    9. Suguru Otani & Takuma Matsuda, 2023. "Unified Merger List in the Container Shipping Industry from 1966: A Structural Estimation of the Transition of Importance of a Firm's Age, Tonnage Capacity, and Geographical Proximity on Merger Decisi," Papers 2310.09938, arXiv.org, revised Nov 2023.
    10. Roy Allen, 2019. "Injectivity and the Law of Demand," Papers 1908.05714, arXiv.org.
    11. Tamás Fleiner & Ravi Jagadeesan & Zsuzsanna Jankó & Alexander Teytelboym, 2019. "Trading Networks With Frictions," Econometrica, Econometric Society, vol. 87(5), pages 1633-1661, September.
    12. Wang, Lu & Su, Zhong-qin & Fung, Hung-Gay & Jin, Hong-min & Xiao, Zuoping, 2021. "Do CEOs with academic experience add value to firms? Evidence on bank loans from Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 67(C).
    13. Suguru Otani, 2021. "Estimating Endogenous Coalitional Mergers: Merger Costs and Assortativeness of Size and Specialization," Papers 2108.12744, arXiv.org, revised Mar 2023.
    14. Alfred Galichon & Bernard Salani'e, 2021. "Structural Estimation of Matching Markets with Transferable Utility," Papers 2109.07932, arXiv.org.
    15. Suguru Otani, 2022. "Individual Rationality Conditions of Identifying Matching Costs in Transferable Utility Matching Games," Papers 2204.00713, arXiv.org, revised Apr 2022.
    16. Alfred Galichon & Bernard Salani'e, 2021. "Cupid's Invisible Hand: Social Surplus and Identification in Matching Models," Papers 2106.02371, arXiv.org, revised Jan 2023.
    17. Nail Kashaev, 2018. "Identification and estimation of multinomial choice models with latent special covariates," Papers 1811.05555, arXiv.org, revised Mar 2022.
    18. Roy Allen & John Rehbeck, 2020. "Hicksian complementarity and perturbed utility models," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(2), pages 245-261, October.

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