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Stable Matching with Incomplete Information, Second Version

  • Qingmin Liu


    (Department of Economics, Columbia University)

  • George J. Mailath


    (Department of Economics, University of Pennsylvania)

  • Andrew Postlewaite


    (Department of Economics, University of Pennsylvania)

  • Larry Samuelson


    (Department of Economics, Yale University)

We formulate a notion of stable outcomes in matching problems with one-sided asymmetric information. The key conceptual problem is to formulate a notion of a blocking pair that takes account of the inferences that the uninformed agent might make. We show that the set of stable outcomes is nonempty in incomplete-information environments, and is a superset of the set of complete-information stable outcomes. We then provide sufficient conditions for incomplete-information stable matchings to be efficient. Lastly, we define a notion of price-sustainable allocations and show that the set of incomplete-information stable matchings is a subset of the set of such allocations.

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Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 13-028.

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Length: 73 pages
Date of creation: 26 Aug 2012
Date of revision: 17 Jun 2013
Handle: RePEc:pen:papers:13-028
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  1. Chade, Hector, 2006. "Matching with noise and the acceptance curse," Journal of Economic Theory, Elsevier, vol. 129(1), pages 81-113, July.
  2. M.Utku Unver & Fuhito Kojima, 2006. "Random Paths to Pairwise Stability in Many-to-Many Matching Problems: A Study on Market Equilibration," Working Papers 256, University of Pittsburgh, Department of Economics, revised Jan 2006.
  3. Rajiv Vohra & Roberto Serrano, 2004. "Information Transmission in Coalitional Voting Games," Econometric Society 2004 North American Summer Meetings 519, Econometric Society.
  4. Forges, F., 1991. "Posterior efficiency," CORE Discussion Papers 1991045, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. D. B. Bernheim, 2010. "Rationalizable Strategic Behavior," Levine's Working Paper Archive 514, David K. Levine.
  6. Hector Chade & Gregory Lewis & Lones Smith, 2014. "Student Portfolios and the College Admissions Problem," Review of Economic Studies, Oxford University Press, vol. 81(3), pages 971-1002.
  7. 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.
  8. Roger B. Myerson, 1988. "Sustainable Matching Plans with Adverse Selection," Discussion Papers 767, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  9. Benjamin Edelman & Michael Ostrovsky & Michael Schwarz, 2007. "Internet Advertising and the Generalized Second-Price Auction: Selling Billions of Dollars Worth of Keywords," American Economic Review, American Economic Association, vol. 97(1), pages 242-259, March.
  10. Rajiv Vohra & Bhaskar Dutta, 2003. "Incomplete Information, Credibility and the Core," Working Papers 2003-21, Brown University, Department of Economics.
  11. Chakraborty, Archishman & Citanna, Alessandro & Ostrovsky, Michael, 2010. "Two-sided matching with interdependent values," Journal of Economic Theory, Elsevier, vol. 145(1), pages 85-105, January.
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