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, and works well in the real world for organ donations.

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.
Kidney Exchange: A Life-Saving Application of Matching Theory [More...]
Economists help build a kidney exchange system that saves lives.
Kidney Paired Donation [More...]
"In the United States, the National Kidney Registry organizes the majority of U.S. KPD transplants,[3][4][5] including the largest swaps. Swaps involving more than two recipients are termed a kidney chain. The first large swap was a 60 participant chain in 2012 that appeared on the front page of the New York Times[6] and the second, even larger swap, included 70 participants and was completed in 2014." Central planning!
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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