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A Theory of Stability in Many-to-many Matching Markets

Author

Listed:
  • Federico Echenique

    (Caltech)

  • Jorge Oviedo

    (Universidad Nacional de San Luis)

Abstract

We develop a theory of stability in many-to-many matching markets. We give conditions under which the setwise-stable set, a core-like concept, is nonempty and can be approached through an algorithm. The usual core may be empty. The setwise-stable set coincides with the pairwise-stable set, and with the predictions of a non-cooperative bargaining model. The set-wise stable set possesses the canonical conflict/coincidence of interest properties from many-to-one, and one-to-one models. The theory parallels the standard theory of stability for many-to-one, and one-to- one, models. We provide results for a number of core-like solutions, besides the setwise-stable set.

Suggested Citation

  • Federico Echenique & Jorge Oviedo, 2004. "A Theory of Stability in Many-to-many Matching Markets," Game Theory and Information 0401002, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpga:0401002
    Note: Type of Document - pdf; prepared on linux; to print on postscript; pages: 45
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    many-to-many matchings; substitutability; tarski fixed point theorem; setwise stability; core;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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