On stable and strategy-proof rules in matching markets with contracts
Daisuke Hirata and
Journal of Economic Theory, 2017, vol. 168, issue C, 27-43
This paper studies stable and (one-sided) strategy-proof rules in many-to-one matching markets with contracts. Not assuming any kind of substitutes condition or the law of aggregate demand, we obtain the following results. First, the number of stable and strategy-proof rules is at most one. Second, the doctor-optimal stable rule, whenever it exists, is the unique candidate for a stable and strategy-proof rule. Third, a stable and strategy-proof rule, whenever it exists, is second-best optimal for doctor welfare, in that no individually rational and strategy-proof rule can dominate it. This last result is further generalized to non-wasteful and strategy-proof rules. Due to the weak assumptions, our analysis covers a broad range of markets, including cases where a (unique) stable and strategy-proof rule is not equal to the one induced by the cumulative offer process or the deferred acceptance algorithm.
Keywords: Matching with contracts; Stability; Strategy-proofness; Uniqueness; Efficiency; Irrelevance of rejected contracts (search for similar items in EconPapers)
JEL-codes: C78 D47 (search for similar items in EconPapers)
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Working Paper: On Stable and Strategy-Proof Rules in Matching Markets with Contracts (2016)
Working Paper: On Stable and Strategy-Proof Rules in Matching Markets with Contracts (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:168:y:2017:i:c:p:27-43
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