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Smith and Rawls share a room: stability and medians

Author

Listed:
  • Klaus, B.E.

    (Microeconomics & Public Economics)

  • Klijn, F.

    (Externe publicaties SBE)

Abstract

We consider one-to-one, one-sided matching (roommate) problems in which agents can either be matched as pairs or remain single. We introduce a so-called bi-choice graph for each pair of stable matchings and characterize its structure. Exploiting this structure we obtain as a corollary the “lonely wolf†theorem and a decomposability result. The latter result together with transitivity of blocking leads to an elementary proof of the so-called stable median matching theorem, showing how the often incompatible concepts of stability (represented by the political economist Adam Smith) and fairness (represented by the political philosopher John Rawls) can be reconciled for roommate problems. Finally, we extend our results to two-sided matching problems.
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Suggested Citation

  • Klaus, B.E. & Klijn, F., 2008. "Smith and Rawls share a room: stability and medians," Research Memorandum 009, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  • Handle: RePEc:unm:umamet:2008009
    DOI: 10.26481/umamet.2008009
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    References listed on IDEAS

    as
    1. Chung, Kim-Sau, 2000. "On the Existence of Stable Roommate Matchings," Games and Economic Behavior, Elsevier, vol. 33(2), pages 206-230, November.
    2. Roth, Alvin E, 1986. "On the Allocation of Residents to Rural Hospitals: A General Property of Two-Sided Matching Markets," Econometrica, Econometric Society, vol. 54(2), pages 425-427, March.
    3. Diamantoudi, Effrosyni & Miyagawa, Eiichi & Xue, Licun, 2004. "Random paths to stability in the roommate problem," Games and Economic Behavior, Elsevier, vol. 48(1), pages 18-28, July.
    4. Bettina Klaus & Flip Klijn, 2006. "Median Stable Matching for College Admissions," International Journal of Game Theory, Springer;Game Theory Society, vol. 34(1), pages 1-11, April.
    5. Michael Schwarz & M. Bumin Yenmez, 2009. "Median Stable Matching," NBER Working Papers 14689, National Bureau of Economic Research, Inc.
    6. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
    7. Jay Sethuraman & Chung-Piaw Teo & Liwen Qian, 2006. "Many-to-One Stable Matching: Geometry and Fairness," Mathematics of Operations Research, INFORMS, vol. 31(3), pages 581-596, August.
    8. Roth, Alvin E., 1985. "The college admissions problem is not equivalent to the marriage problem," Journal of Economic Theory, Elsevier, vol. 36(2), pages 277-288, August.
    9. Roth, Alvin E & Sotomayor, Marilda, 1989. "The College Admissions Problem Revisited," Econometrica, Econometric Society, vol. 57(3), pages 559-570, May.
    10. Chung-Piaw Teo & Jay Sethuraman, 1998. "The Geometry of Fractional Stable Matchings and Its Applications," Mathematics of Operations Research, INFORMS, vol. 23(4), pages 874-891, November.
    11. Jackson, Matthew O. & Watts, Alison, 2002. "The Evolution of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 106(2), pages 265-295, October.
    12. Martinez, Ruth & Masso, Jordi & Neme, Alejandro & Oviedo, Jorge, 2000. "Single Agents and the Set of Many-to-One Stable Matchings," Journal of Economic Theory, Elsevier, vol. 91(1), pages 91-105, March.
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    More about this item

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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