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Matching with Contracts: Comment

Author

Listed:
  • John William Hatfield
  • Fuhito Kojima

Abstract

Hatfield and Milgrom (2005) present a unified model of matching with contracts phrased in terms of hospitals and doctors, which subsumes the standard two-sided matching and some package auction models. They show that a stable allocation exists if contracts are substitutes for each hospital. They further claim that if a hospital's preferences violate the substitutes condition, there exist singleton preferences for the other hospitals and doctors such that no stable allocation exists. We show this last claim does not hold in general. We further present a weaker condition that is necessary to guarantee the existence of stable allocations.

Suggested Citation

  • John William Hatfield & Fuhito Kojima, 2008. "Matching with Contracts: Comment," American Economic Review, American Economic Association, vol. 98(3), pages 1189-1194, June.
    • Handle: RePEc:aea:aecrev:v:98:y:2008:i:3:p:1189-94
    Note: DOI: 10.1257/aer.98.3.1189
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    More about this item

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

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