Alvin Roth

Who Gets What? The New Economics of Matching and Market Design (záznam)

Market design is an ancient human activity but a relatively new part of economics. It seeks to understand how the design of markets and marketplaces influences their performance, and to use this growing understanding to fix markets when they're broken, and to help establish markets where they are missing.  Many markets are matching markets, in which you can't just choose what you want, even if you can afford it: you also have to be chosen. In these markets, prices don’t do all the work. Examples of matching markets are labor markets (workers can't just choose where to work, nor can employers just choose who will work for them), school choice, and kidney exchange. I'll illustrate with examples from these.