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Monotonicity and Nash implementation in matching markets with contracts

  • Haake, Claus-Jochen

    (Center for Mathematical Economics, Bielefeld University)

  • Klaus, Bettina

    (Center for Mathematical Economics, Bielefeld University)

We consider general two-sided matching markets, so-called matching with contracts markets as introduced by Hatfield and Milgrom (2005), and analyze (Maskin) monotonic and Nash implementable solutions. We show that for matching with contracts markets the stable correspondence is monotonic and implementable (Theorems 1 and 3). Furthermore, any solution that is Pareto efficient, individually rational, and monotonic is a supersolution of the stable correspondence (Theorem 2). In other words, the stable correspondence is the minimal solution that is Pareto efficient, individually rational, and implementable.

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Paper provided by Center for Mathematical Economics, Bielefeld University in its series Center for Mathematical Economics Working Papers with number 372.

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Date of creation: 12 Aug 2011
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Handle: RePEc:bie:wpaper:372
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