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Understanding Matching Problems in Economics

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0% found this document useful (0 votes)
12 views18 pages

Understanding Matching Problems in Economics

Uploaded by

Kenny Alpha
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Matching Problems

Examples of Two Sided Markets


• Job Allotment
• School Admissions
• Job Transfers
Assortative Matching
Model

• Manager (M), Worker (S)


• Production Function: M^2*S
• Workers: Country 1: A,B
• Workers: Country 2: C,D

• A>B>C>D
Example
• A=13, B=8, C=6, D=4
• 2 workers each
• Pre Globalisation
• (AB), (C,D)
• Post Globalisation: ?
Stability in Matching
The Model
• N men and N women
• Men have preferences over the women
• Women have preferences over the men
• A person is not indifferent to two people of the opposite sex i.e. he
or she has a strict preference relation over any two people of the
opposite sex.
• A person does not prefer staying alone over marriage i.e. he or she
is willing to marry the worst person but not stay alone.

• Objective: To decide on N pairs( a matching), each containing a


man and a woman, such that no man and woman prefer each other
to their partner in the matching
Example
Preference of women A sample matching

α CDBA <Aα, Bδ, Cβ, Dγ>


β BCDA
γ CBAD Is this efficient?
δ ABCD
Can you improve the welfare of anyone
without making someone else worse off?
Preference of men
Is this stable?
A αβγδ
B αγδβ Does there exist a man and woman who
C βαγδ prefer each other to their spouses?
D βγαδ
Key Question
• Q1. Is there always a stable matching?
• Q2. Is there a way of arriving at this
matching?
Man Proposing Algorithm (MPP)
• The algorithm proceeds in rounds. For simplicity we refer
to these rounds as 'days'.
• On day 1, every man proposes to the woman he likes
best,
• Now each woman has a list (possibly empty) of men who
have proposed to her
• She selects her most favoured man
• She keeps him 'on hold' and rejects others.
• On day 2 each of the rejected men, propose to their next
best choice.
• Now again each woman selects the best man from those
who have proposed her and the one on hold, if any, and
puts him on hold while rejecting others.
• This procedure continues till no man is rejected and all
couples formed.
Application of algorithm
• From the moment any woman gets a
proposal she will always have a man 'on
hold'.
• One woman does not receive proposal till
last day since if every woman has a
proposal the matchings are made!
• This implies that there is a rejection every
day as long as the procedure continues.
• Remark: The MPP terminates in a finite
number of days
One woman does not receive proposal till
last day
Number of women receiving proposals N -1
Application
• The stable roommates problem is similar to the stable marriage
problem, but differs in that all participants belong to a single pool
(instead of being divided into equal numbers of "men" and "women")
• The hospitals/residents problem — also known as the college
admissions problem — differs from the stable marriage problem in
that the "women" can accept "proposals" from more than one "man"
(e.g., a hospital can take multiple residents, or a college can take an
incoming class of more than one student). Algorithms to solve the
hospitals/residents problem can be hospital-oriented (female-
optimal) or resident-oriented (male-optimal).
• The hospitals/residents problem with couples allows the set of
residents to include couples who must be assigned together, either
to the same hospital or to a specific pair of hospitals chosen by the
couple (e.g., a married couple want to ensure that they will stay
together and not be stuck in programs that are far away from each
other). The addition of couples to the hospitals/residents problem
renders the problem intractable

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