Matching Theory
From Critiques Of Libertarianism
(Also known as Stable Allocations.) Lloyd Shapley and Alvin Roth won the Nobel prize in economics for this theory. Noah Smith says "Matching Theory is basically an algorithm - a mathematical technology - for finding optimal matches between pairs or groups of people. It incorporates human preferences, optimization, and strategic behavior, so it is economics." It is also a good example of Central Planning that can work better than actual markets.
Links
- A Nobel for economics that really works [More...]
- Noah Smith reports the basics of Matching Theory. "Matching Theory is basically an algorithm - a mathematical technology - for finding optimal matches between pairs or groups of people. It incorporates human preferences, optimization, and strategic behavior, so it is economics."
- A Nobel Prize for Work that Matters in Our Everyday Lives [More...]
- Explains Matching Theory to those without economics backgrounds.
- Noble Matching [More...]
- Alex Tabarrok provides an explanation of Matching Theory, provides some examples, and discusses work beyond that of the Nobel prize winners.
Quotations
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