Matching Theory

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(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.

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