Author : Federico Echenique
Publisher : Cambridge University Press
Page : 721 pages
File Size : 40,6 MB
Release : 2023-05-31
Category : Business & Economics
ISBN : 1108831990
Written by more than fifty top researchers, this text comprehensively covers a major inter-disciplinary field and its important applications.
Author : Guillaume Haeringer
Publisher : MIT Press
Page : 393 pages
File Size : 39,91 MB
Release : 2018-03-02
Category : Business & Economics
ISBN : 0262345099
A broad overview of market mechanisms, with an emphasis on the interplay between theory and real-life applications; examples range from eBay auctions to school choice. This book offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows the text to analyze a broad set of situations—including such unconventional markets as college admissions and organ donation—and forces readers to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems. The book focuses on the interplay between theory and applications. To keep the text as accessible as possible, special effort has been made to minimize formal description of the models while emphasizing the intuitive, with detailed explanations and resolution of examples. Appendixes offer general reviews of elements of game theory and mechanism design that are related to the themes explored in the book, presenting the basic concepts with as many explanations and illustrations as possible. The book covers topics including the basics of simple auctions; eBay auctions; Vickrey–Clarke–Groves auctions; keyword auctions, with examples from Google and Facebook; spectrum auctions; financial markets, with discussions of treasury auctions and IPOs; trading on the stock market; the basic matching model; medical match; assignment problems; probabilistic assignments; school choice; course allocation, with examples from Harvard and Wharton; and kidney exchange.
Author : Federico Echenique
Publisher : Cambridge University Press
Page : 722 pages
File Size : 25,97 MB
Release : 2023-04-30
Category : Computers
ISBN : 1108935052
The rich, multi-faceted and multi-disciplinary field of matching-based market design is an active and important one due to its highly successful applications with economic and sociological impact. Its home is economics, but with intimate connections to algorithm design and operations research. With chapters contributed by over fifty top researchers from all three disciplines, this volume is unique in its breadth and depth, while still being a cohesive and unified picture of the field, suitable for the uninitiated as well as the expert. It explains the dominant ideas from computer science and economics underlying the most important results on market design and introduces the main algorithmic questions and combinatorial structures. Methodologies and applications from both the pre-Internet and post-Internet eras are covered in detail. Key chapters discuss the basic notions of efficiency, fairness and incentives, and the way market design seeks solutions guided by normative criteria borrowed from social choice theory.
Author : Martin Bichler
Publisher : Cambridge University Press
Page : 297 pages
File Size : 45,64 MB
Release : 2017-12-21
Category : Business & Economics
ISBN : 1107173183
The introduction to market design discusses the theory and empirical results relevant for the design of multi-object auctions and matching.
Author : Alvin E. Roth
Publisher : Cambridge University Press
Page : 288 pages
File Size : 27,16 MB
Release : 1992-06-26
Category : Business & Economics
ISBN : 1107782430
Two-sided matching provides a model of search processes such as those between firms and workers in labor markets or between buyers and sellers in auctions. This book gives a comprehensive account of recent results concerning the game-theoretic analysis of two-sided matching. The focus of the book is on the stability of outcomes, on the incentives that different rules of organization give to agents, and on the constraints that these incentives impose on the ways such markets can be organized. The results for this wide range of related models and matching situations help clarify which conclusions depend on particular modeling assumptions and market conditions, and which are robust over a wide range of conditions. 'This book chronicles one of the outstanding success stories of the theory of games, a story in which the authors have played a major role: the theory and practice of matching markets ... The authors are to be warmly congratulated for this fine piece of work, which is quite unique in the game-theoretic literature.' From the Foreword by Robert Aumann
Author : Alvin E. Roth
Publisher : Houghton Mifflin Harcourt
Page : 275 pages
File Size : 44,15 MB
Release : 2015
Category : Business & Economics
ISBN : 0544291131
A Nobel laureate reveals the often surprising rules that govern a vast array of activities -- both mundane and life-changing -- in which money may play little or no role. If you've ever sought a job or hired someone, applied to college or guided your child into a good kindergarten, asked someone out on a date or been asked out, you've participated in a kind of market. Most of the study of economics deals with commodity markets, where the price of a good connects sellers and buyers. But what about other kinds of "goods," like a spot in the Yale freshman class or a position at Google? This is the territory of matching markets, where "sellers" and "buyers" must choose each other, and price isn't the only factor determining who gets what. Alvin E. Roth is one of the world's leading experts on matching markets. He has even designed several of them, including the exchange that places medical students in residencies and the system that increases the number of kidney transplants by better matching donors to patients. In Who Gets What -- And Why, Roth reveals the matching markets hidden around us and shows how to recognize a good match and make smarter, more confident decisions.
Author : Paul Milgrom
Publisher : Cambridge University Press
Page : 378 pages
File Size : 30,47 MB
Release : 2004-01-12
Category : Business & Economics
ISBN : 1139449168
This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Author : Felix Brandt
Publisher : Cambridge University Press
Page : 553 pages
File Size : 33,72 MB
Release : 2016-04-25
Category : Computers
ISBN : 1316489752
The rapidly growing field of computational social choice, at the intersection of computer science and economics, deals with the computational aspects of collective decision making. This handbook, written by thirty-six prominent members of the computational social choice community, covers the field comprehensively. Chapters devoted to each of the field's major themes offer detailed introductions. Topics include voting theory (such as the computational complexity of winner determination and manipulation in elections), fair allocation (such as algorithms for dividing divisible and indivisible goods), coalition formation (such as matching and hedonic games), and many more. Graduate students, researchers, and professionals in computer science, economics, mathematics, political science, and philosophy will benefit from this accessible and self-contained book.
Author : David F. Manlove
Publisher : World Scientific
Page : 524 pages
File Size : 39,37 MB
Release : 2013
Category : Mathematics
ISBN : 9814425257
Matching problems with preferences are all around us OCo they arise when agents seek to be allocated to one another on the basis of ranked preferences over potential outcomes. Efficient algorithms are needed for producing matchings that optimise the satisfaction of the agents according to their preference lists.In recent years there has been a sharp increase in the study of algorithmic aspects of matching problems with preferences, partly reflecting the growing number of applications of these problems worldwide. This book describes the most important results in this area, providing a timely update to The Stable Marriage Problem: Structure and Algorithms (D Gusfield and R W Irving, MIT Press, 1989) in connection with stable matching problems, whilst also broadening the scope to include matching problems with preferences under a range of alternative optimality criteria."
Author : Aranyak Mehta
Publisher :
Page : 120 pages
File Size : 15,92 MB
Release : 2013-10-01
Category : Computers
ISBN : 9781601987181
Matching is a classic problem with a rich history and a significant impact on both the theory of algorithms and in practice. Recently, there has been a surge of interest in the online version of matching and its generalizations. This is due to the important new application domain of Internet advertising. The theory of online matching and allocation has played a critical role in designing algorithms for ad allocation. Online Matching and Ad Allocation surveys the key problems, models, and algorithms from online matchings, as well as their implication in the practice of ad allocation. It provides a classification of the problems in this area, an introduction into the techniques used, a glimpse into the practical impact, and ponders some of the open questions that will be of interest in the future. Matching continues to find core applications in diverse domains, and the advent of massive online and streaming data emphasizes the future applicability of the algorithms and techniques surveyed here. Online Matching and Ad Allocation is an ideal primer for anyone interested in matching, and particularly in the online version of the problem, in bipartite graphs.
