Stability in Large Markets

• 成果类型: Article
• 署名作者: Jagadeesan, Ravi; Vocke, Karolina
• 署名单位: Stanford University; University of Innsbruck
• 刊物名称: REVIEW OF ECONOMIC STUDIES
• ISSN/ISSBN: 0034-6527
• DOI: 10.1093/restud/rdae008
• 发表日期: 2024
• 页码: 3532-3568
• 关键词: Stable matchings; EXISTENCE; equilibrium; continuum; networks

摘要

In matching models, pairwise-stable outcomes do not generally exist without substantial restrictions on both preferences and the topology of the network of contracts. We address the foundations of matching markets by developing a matching model with a continuum of agents that allows for arbitrary preferences and network structures. We show that pairwise-stable outcomes are guaranteed to exist. When agents can interact with multiple other counterparties, pairwise stability is too weak of a solution concept, and we argue that a refinement of it called tree stability is the most appropriate solution concept in this setting. Our main results show that tree-stable outcomes exist for arbitrary preferences and network topologies.