maximum matching can avoid this risk and enjoy higher payoffs than inessential players. Although the search for partners is …

an infinite-horizon economy with matching frictions. I characterize first the efficient assignment and then the …

approaches for course allocation with a focus on appropriate stable matching mechanisms are surveyed. Two such mechanisms are … discussed in more detail, the Gale-Shapley student optimal stable mechanism (SOSM) and the efficiency adjusted deferred … acceptance mechanism (EADAM). EADAM can be seen as a fundamental recent contribution which recovers efficiency losses from SOSM …

-proofness or efficiency. We show that stability is compatible with strategy-proofness or efficiency if and only if the priority …

. Equilibrium investments and the equilibrium matching will be efficient if agents can simultaneously negotiate investments and … matches, but we focus on markets in which agents must first sink their investments before matching. Additional equilibria may … arise in this sunk-investment setting, even though our matching market is competitive. These equilibria exhibit …

This article develops a search-theoretic model of financial intermediation to study the efficiency condition of the … by the interest rate setting mechanism. The efficiency of the competitive economy requires that interest rates are posted …