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The design of the New York City (NYC) High School match involved tradeoffs between incentives and efficiency, because some schools are strategic players that rank students in order of preference, while others order students based on large priority classes. Therefore it is desirable for a mechanism to produce stable matchings (to avoid giving the strategic(More)
Most of the two-sided matching literature maintains the assumption that agents are never indifferent between any two members of the opposite side. In practice, however, ties in preferences arise naturally and are widespread. Market design needs to handle ties carefully, because in the presence of indifferences, stability no longer implies Pareto efficiency,(More)
I study strategy-proof assignment mechanisms where the agents reveal their preference rankings over the available objects. A stochastic mechanism returns lotteries over deterministic assignments, and mechanisms are compared according to first-order stochastic dominance. I show that non-wasteful strategy-proof mechanisms are not dominated by strategy-proof(More)
Many social networks have the following properties: (i) a short average distance between any two individuals; (ii) a high clustering coefficient; (iii) segregation patterns; the presence of (iv) brokers and (v) hubs. (i) and (ii) define a small world network. This paper develops a strategic network formation model where agents have heterogeneous knowledge(More)
Stability is often the goal for clearinghouses in matching markets, such as those matching residents to hospitals, students to schools, etc. Stable outcomes absent transfers need not be utilitarian effi cient, suggesting the potential value of transfers. We study the wedge between stability and effi ciency in large one-to-one matching markets. We show(More)
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