Matching, Auctions, and Market Design

43 Pages Posted: 12 May 2013 Last revised: 21 Dec 2013

Matthew O. Jackson

Stanford University - Department of Economics; Santa Fe Institute; Canadian Institute for Advanced Research (CIFAR)

Date Written: December 2013

Abstract

I provide a brief introduction to the early literatures on Matching, Auctions, and Market Design.

The design of matching markets and auctions has brought economic theory and practice together. Indeed, this is an area where microeconomic theory has had its largest direct impact. This is in part because it focuses on settings where people interact according to very clearly delineated rules. Thus, the strategic interactions of the participants are relatively easy to model, and outcomes are comparatively straightforward to assess relative to the many other less structured interactions that occur in an economy. In view of this, these are arenas where economic theory has directly shaped institutions ranging from the systems by which students are assigned to public schools to the manner in which governments have auctioned to the rights to parts of the broadcast spectra in particular geographic regions.

Keywords: Matching, Assignment, Auctions, Market Design

JEL Classification: D47, D44, C78, D61, D78, I10, I20

Suggested Citation

Jackson, Matthew O., Matching, Auctions, and Market Design (December 2013). Available at SSRN: https://ssrn.com/abstract=2263502 or http://dx.doi.org/10.2139/ssrn.2263502

Matthew O. Jackson (Contact Author)

Stanford University - Department of Economics ( email )

Landau Economics Building
579 Serra Mall
Stanford, CA 94305-6072
United States
1-650-723-3544 (Phone)

HOME PAGE: http://www.stanford.edu/~jacksonm

Santa Fe Institute

1399 Hyde Park Road
Santa Fe, NM 87501
United States

Canadian Institute for Advanced Research (CIFAR) ( email )

180 Dundas Street West, Suite 1400
Toronto, Ontario
Canada

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