Two-Sided Markets: Theory and Applications (Nobel Memorial Prize in Economics 2012)

E. Zhelesova (), S. Izmalkov (), Konstantin Sonin and I. Khovanskaya ()

Voprosy Ekonomiki, 2013, issue 1

Abstract: The paper provides an overview of major results in the theory of two-sided markets that brought the 2012 Nobel Memorial Prize in economics to Lloyd Shapley and Alvin Roth. We describe the celebrated Gale & Shapley deferred acceptance algorithm and Shapley & Scarf top trading cycles algorithm in applications to marriage and college admissions markets, and provide simple examples to illustrate the basic mechanics of these algorithms. We also explain how Gale & Shapley algorithm can be used to improve efficiency of college admission in Russia.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2013:id:495

DOI: 10.32609/0042-8736-2013-1-4-26

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