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Stochastic Stability in Assignment Problems

  • Bettina Klaus
  • Jonathan Newton

In a dynamic model of assignment problems, small deviations suffice to move between stable outcomes. This result is used to obtain no-selection and almost-no-selection results under the stochastic stability concept for uniform and payoff-dependent errors. There is no-selection of partner or payoff under uniform errors, nor for agents with multiple optimal partners under payoff-dependent errors. There can be selection of payoff for agents with a unique optimal partner under payoff-dependent errors. However, when every agent has a unique optimal partner, almost-no-selection is obtained.

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Paper provided by Université de Lausanne, Faculté des HEC, DEEP in its series Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) with number 14.02.

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Length: 27 pp.
Date of creation: Apr 2014
Date of revision:
Handle: RePEc:lau:crdeep:14.02
Contact details of provider: Postal: Université de Lausanne, Faculté des HEC, DEEP, Internef, CH-1015 Lausanne
Phone: ++41 21 692.33.20
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  1. Bo Chen & Satoru Fujishige & Zaifu Yang, 2010. "Decentralized Market Processes to Stable Job Matchings with Competitive Salaries," KIER Working Papers 749, Kyoto University, Institute of Economic Research.
  2. Klaus Bettina & Klijn Flip & Walzl Markus, 2008. "Stochastic Stability for Roommate Markets," Research Memorandum 010, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  3. Newton, Jonathan & Sawa, Ryoji, 2013. "A one-shot deviation principle for stability in matching problems," Working Papers 2013-09, University of Sydney, School of Economics, revised Jul 2014.
  4. van Damme, E.E.C. & Weibull, J., 2002. "Evolution in games with endogenous mistake probabilities," Other publications TiSEM 1c779ce9-9daa-4893-9ddb-e, Tilburg University, School of Economics and Management.
  5. Newton, Jonathan, 2012. "Recontracting and stochastic stability in cooperative games," Journal of Economic Theory, Elsevier, vol. 147(1), pages 364-381.
  6. Agastya, Murali, 1999. "Perturbed Adaptive Dynamics in Coalition Form Games," Journal of Economic Theory, Elsevier, vol. 89(2), pages 207-233, December.
  7. Sawa, Ryoji, 2014. "Coalitional stochastic stability in games, networks and markets," Games and Economic Behavior, Elsevier, vol. 88(C), pages 90-111.
  8. Bettina Klaus & Frédéric Payot, 2013. "Paths to Stability in the Assignment Problem," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 13.14, Université de Lausanne, Faculté des HEC, DEEP.
  9. Crawford, Vincent P & Knoer, Elsie Marie, 1981. "Job Matching with Heterogeneous Firms and Workers," Econometrica, Econometric Society, vol. 49(2), pages 437-50, March.
  10. Murali Agastya, 1997. "Adaptive Play in Multiplayer Bargaining Situations," Review of Economic Studies, Oxford University Press, vol. 64(3), pages 411-426.
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