Abstract
We characterize solutions for two-sided matching, both in the transferable- and in the nontransferable-utility frameworks, using a cardinal formulation. Our approach makes the comparison of the matching models with and without transfers particularly transparent. We introduce the concept of a no-trade stable matching to study the role of transfers in matching. A no-trade stable matching is one in which the availability of transfers does not affect the outcome.
Original language | English (US) |
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Pages (from-to) | 63-77 |
Number of pages | 15 |
Journal | Games and Economic Behavior |
Volume | 101 |
DOIs | |
State | Published - Jan 1 2017 |
Keywords
- Market design
- Matching theory
- National resident matching program
ASJC Scopus subject areas
- Finance
- Economics and Econometrics