An Analysis of Top Trading Cycles in Two-Sided Matching Markets

Yeon-Koo Che and Olivier Tercieux

No 2014, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We study top trading cycles in a two-sided matching environment (Abdulkadiroglu and Sonmez (2003)) under the assumption that individuals� preferences and objects� priorities are drawn iid uniformly. The distributions of agents� preferences and objects� priorities remaining after a given round of TTC depend nontrivially on the exact history of the algorithm up to that round (and so need not be uniform iid). Despite the nontrivial history-dependence of evolving economies, we show that the number of individuals/objects assigned at each round follows a simple Markov chain and we explicitly derive the transition probabilities.

Keywords: Random matching markets; Markov property (search for similar items in EconPapers)
JEL-codes: C70 D47 D61 D63 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2015-07
New Economics Papers: this item is included in nep-gth
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