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An experimental study of decentralized matching

Author

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  • Echenique, Federico
  • Robinson‐Cortés, Alejandro
  • Yariv, Leeat

Abstract

We present an experimental study of decentralized two‐sided matching markets with no transfers. Experimental participants are informed of everyone's preferences and can make arbitrary nonbinding match offers that get finalized when a period of market inactivity has elapsed. Several insights emerge. First, stable outcomes are prevalent. Second, while centralized clearinghouses commonly aim at implementing extremal stable matchings, our decentralized markets most frequently culminate in the median stable matching. Third, preferences' cardinal representations impact the stable partners with whom participants match. Last, the dynamics underlying our results exhibit strategic sophistication, with agents successfully avoiding cycles of blocking pairs.

Suggested Citation

  • Echenique, Federico & Robinson‐Cortés, Alejandro & Yariv, Leeat, 2025. "An experimental study of decentralized matching," Department of Economics, Working Paper Series qt14z7517n, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    • Handle: RePEc:cdl:econwp:qt14z7517n
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    More about this item

    Keywords

    Economics; Applied Economics; Economic Theory; Decentralized matching; experiments; market design; C78; C92; D47; Econometrics; Applied economics;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design

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