Stochastic Stability for Roommate Markets

Details

Serval ID
serval:BIB_DAC21F02F2E0
Type
Article: article from journal or magazin.
Collection
Publications
Institution
Title
Stochastic Stability for Roommate Markets
Journal
Journal of Economic Theory
Author(s)
Klaus B., Klijn F., Walzl M.
ISSN
0022-0531
Publication state
Published
Issued date
11/2010
Peer-reviewed
Oui
Volume
145
Number
6
Pages
2218-2240
Language
english
Abstract
We show that for any roommate market the set of stochastically stable matchings coincides with the set of absorbing matchings. This implies that whenever the core is non-empty (e.g., for marriage markets), a matching is in the core if and only if it is stochastically stable, i.e., stochastic stability is a characteristic of the core. Several solution concepts have been proposed to extend the core to all roommate markets (including those with an empty core). An important implication of our results is that the set of absorbing matchings is the only solution concept that is core consistent and shares the stochastic stability characteristic with the core.
Keywords
Core, (Pairwise) stability, Roommate markets, Stochastic stability
Web of science
Create date
26/04/2010 15:05
Last modification date
20/08/2019 15:59
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