Consistent conjectures in dynamic matching markets

Laura Doval and Pablo Schenone

Mathematical Social Sciences, 2024, vol. 132, issue C, 114-127

Abstract: We provide a framework to study stability notions for two-sided dynamic matching markets in which matching is one-to-one and irreversible. The framework gives center stage to the set of matchings an agent anticipates would ensue should they remain unmatched, which we refer to as the agent’s conjectures. A collection of conjectures, together with a pairwise stability and individual rationality requirement given the conjectures, defines a solution concept for the economy. We identify a sufficient condition — consistency — for a family of conjectures to lead to a nonempty solution (cf. Hafalir, 2008). As an application, we introduce two families of consistent conjectures and their corresponding solution concepts: continuation-value-respecting dynamic stability, and the extension to dynamic markets of the solution concept in Hafalir (2008), sophisticated dynamic stability.

Keywords: Dynamic matching; Matching with externalities; Conjectures; Dynamic stability (search for similar items in EconPapers)
JEL-codes: C78 D47 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:matsoc:v:132:y:2024:i:c:p:114-127

DOI: 10.1016/j.mathsocsci.2024.11.002

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