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Matching Markets

Author

Listed:
  • Andrew Yang
  • Bruce Changlong Xu
  • Ivan Villa-Renteria

Abstract

Matching markets are of particular interest in computer science and economics literature as they are often used to model real-world phenomena where we aim to equitably distribute a limited amount of resources to multiple agents and determine these distributions efficiently. Although it has been shown that finding market clearing prices for Fisher markets with indivisible goods is NP-hard, there exist polynomial-time algorithms able to compute these prices and allocations when the goods are divisible and the utility functions are linear. We provide a promising research direction toward the development of a market that simulates buyers' preferences that vary according to the bundles of goods allocated to other buyers. Our research aims to elucidate unique ways in which the theory of matching markets can be extended to account for more complex and often counterintuitive microeconomic phenomena.

Suggested Citation

  • Andrew Yang & Bruce Changlong Xu & Ivan Villa-Renteria, 2021. "Matching Markets," Papers 2109.14850, arXiv.org.
    • Handle: RePEc:arx:papers:2109.14850
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    File URL: http://arxiv.org/pdf/2109.14850
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    References listed on IDEAS

    as
    1. E. Eisenberg, 1961. "Aggregation of Utility Functions," Management Science, INFORMS, vol. 7(4), pages 337-350, July.
    2. Alvin E. Roth & Tayfun Sönmez & M. Utku Ünver, 2004. "Kidney Exchange," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(2), pages 457-488.
    3. Jain, Kamal & Vazirani, Vijay V., 2010. "Eisenberg-Gale markets: Algorithms and game-theoretic properties," Games and Economic Behavior, Elsevier, vol. 70(1), pages 84-106, September.
    4. Tayfun Sönmez & M. Utku Ünver, 2009. "Matching, Allocation, and Exchange of Discrete Resources," Boston College Working Papers in Economics 717, Boston College Department of Economics.
    5. Eric Budish, 2011. "The Combinatorial Assignment Problem: Approximate Competitive Equilibrium from Equal Incomes," Journal of Political Economy, University of Chicago Press, vol. 119(6), pages 1061-1103.
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