Showing 1 - 10 of 186
In a matching problem between students and schools, a mechanism is said to be robustly stable if it is stable, strategy …-proof, and immune to a combined manipulation, where a student first misreports her preferences and then blocks the matching that …
Persistent link: https://www.econbiz.de/10011694986
This paper studies the problem of assigning a set of indivisible objects to a set of agents when monetary transfers are not allowed and agents reveal only ordinal preferences, but random assignments are possible. We offer two characterizations of the probabilistic serial mechanism, which assigns...
Persistent link: https://www.econbiz.de/10011684921
We introduce collective bargaining in a static framework where the firm and its risk-neutral employees negotiate over wages in a non-binding contract setting. Our main result is the equivalence between the non-binding collective equilibrium wage-employment contract and the equilibrium contract...
Persistent link: https://www.econbiz.de/10009230679
We show that the class of preferences satisfying the Gross Substitutes condition of Kelso and Crawford (1982) is strictly larger than the class of Endowed Assignment Valuations of Hatfield and Milgrom (2005), thus resolving the open question posed by the latter paper. In particular, our result...
Persistent link: https://www.econbiz.de/10011673201
performance. Our results are consistent with a simple investment-cum-matching model: pairing the worst performing individuals with … the best yields 20% lower first stage effort than random matching. Pairing the best with the best, however, yields 5 …% higher first stage effort than random matching. In line with the theory the latter result is more pronounced when the task …
Persistent link: https://www.econbiz.de/10011594146
We argue that using wage data alone, it is virtually impossible to identify whether Assortative Matching between worker … and firm types is positive or negative. In standard competitive matching models the wages are determined by the marginal … sorting in the presence of search frictions independent of the sign of the sorting. -- Sorting ; assortative matching …
Persistent link: https://www.econbiz.de/10003809678
In a market in which sellers compete by posting mechanisms, we study how the properties of the meeting technology affect the mechanism that sellers select. In general, sellers have incentive to use mechanisms that are socially efficient. In our environment, sellers achieve this by posting an...
Persistent link: https://www.econbiz.de/10010387737
We prove that in a market where agents rank objects independently and uniformly at random, there exists an assignment of objects to agents with a constant average rank (i.e., an average rank independent of the market size). The proof builds on techniques from random graph theory and the FKG...
Persistent link: https://www.econbiz.de/10012806604
We introduce a generalization of the school choice problem motivated by the following observations: students are assigned to grades within schools, many students have siblings who are applying as well, and school districts commonly guarantee that siblings will attend the same school. This last...
Persistent link: https://www.econbiz.de/10012806613
In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to stability if all agents' preferences are jointly fully...
Persistent link: https://www.econbiz.de/10012415626