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Essays On Two Sided Matching With Contracts
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Book Synopsis Essays on Two-Sided Matching with Contracts by : Daniel Aaron Ripperger-Suhler
Download or read book Essays on Two-Sided Matching with Contracts written by Daniel Aaron Ripperger-Suhler and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters that examine contracting problems in two-sided matching models. The first chapter studies use of syndication contracts in the venture capital matching market, and the resulting impact on portfolio company outcomes. A novel empirical model is developed to account for endogeneity issues due to matching between venture capitalists (VCs) and companies as well as the simultaneous causality bias coming from contract choice. The estimates show that unobserved company heterogeneity can lead to biased company outcome estimates, which can change over time due to changes in preferences over unobserved company characteristics. The second chapter, joint with Kaniska Dam and Konstantinos Serfes, explores the effect of incentives on choice of organizational structure, and the implications for the output distribution in two-sided matching model. A novel condition guaranteeing positive assortative matching (PAM) is derived for two-sided matching models with non-smooth bargaining frontiers. In the model, the choice between integrating and remaining separate results in a non-differentiable bargaining frontier and produces equilibria in which some matched pairs integrate, and others do not integrate. These equilibria produce drastically different output distributions and provide researchers with predictions that can be tested empirically. The final chapter considers a principal-agent model in which the agent can choose and exclusive contract with a single principal, or a non-exclusive contract with two principals at the cost of additional effort. The two-sided matching model shows that the endogenous outside option absent in a standard principal-agent model is necessary in order to generate certain equilibrium contract patterns. Finally, the model shows that changes in the costliness of additional effort by the agents has a non-monotonic impact of agent utility.
Book Synopsis Two-Sided Matching by : Alvin E. Roth
Download or read book Two-Sided Matching written by Alvin E. Roth and published by Cambridge University Press. This book was released on 1992-06-26 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two-sided matching provides a model of search processes such as those between firms and workers in labor markets or between buyers and sellers in auctions. This book gives a comprehensive account of recent results concerning the game-theoretic analysis of two-sided matching. The focus of the book is on the stability of outcomes, on the incentives that different rules of organization give to agents, and on the constraints that these incentives impose on the ways such markets can be organized. The results for this wide range of related models and matching situations help clarify which conclusions depend on particular modeling assumptions and market conditions, and which are robust over a wide range of conditions. 'This book chronicles one of the outstanding success stories of the theory of games, a story in which the authors have played a major role: the theory and practice of matching markets ... The authors are to be warmly congratulated for this fine piece of work, which is quite unique in the game-theoretic literature.' From the Foreword by Robert Aumann
Book Synopsis Intermediated Matching by : Vinay Ramani
Download or read book Intermediated Matching written by Vinay Ramani and published by . This book was released on 2009 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of two essays on two-sided matching. In chapter 2, we consider a model of intermediation wherein an incumbent matchmaker faces the threat of entry from a potential entrant. We model this competition as an entry game where the incumbent moves first and offers a contract to a subset of men and women. The entrant observes the actions of the incumbent and then decides to enter or stay out. If there is entry, then the entrant offers a contract targeted to a subset of men and women. When thepayoff from matching is complementary in the types of the agents, we prove that there exists a weak sequential equilibrium either withentry and market segmentation or with entry deterrence. Our model explains the strategic market differentiation by the firms as thecreation of a niche market for themselves. The data on the presence of niche dating websites confirms this result.^An important findingof our model is that at an equilibrium, each firm offers a different contract to the men and women that they match. In sharp contrast toexisting models in the Industrial Organization literature on entry deterrence, we find that accommodating the entrant is anoptimal strategy for the incumbent, not entry deterrence. We then compare the duopoly market with a two-price monopoly market and findthat the duopoly market has greater coverage than a two-price monopoly market. The model is then extended to allow for sequentialentry. When intermediation is costless, allowing for sequential entry yields the socially efficient outcome as the number of entrants tends to infinity. Introducing intermediation costs leadsto a welfare loss and a finite number of intermediaries entering. In chapter 3, we extend the model developed in chapter 2 by introducing search in a model of intermediation.^It is common thatmen and women also search by themselves for a suitable partner in addition to using the services of the intermediaries. The entry gameis modified by allowing for the possibility that the men and women can search in the decentralized market. The men and women comparethe expected value of accepting the match offered by the intermediaries to the expected value of search in the decentralizedmarket. We prove that there exists a weak sequential equilibrium where the incumbent offers a contract to a subset consisting of thehighest types of men and women, the entrant enters and offers a contract to a subset of the highest types remaining in the residualmarket and the men and women not offered any contract by either the incumbent or the entrant search in the decentralized market using areservation value strategy.^Thus in addition to incorporating search in a model of intermediation, our model proves that marketsegmentation arises due to competition between the intermediaries to create a niche market for themselves. An interesting finding is thatthe higher types of agents prefer using the services of intermediaries while the lower types search by themselves. We thendiscuss the issues of entry accommodation and entry deterrence and find that strategic entry accommodation is the optimal strategy for the entrant, not entry deterrence. Thereafter we compare the duopoly model with a two-price monopoly market to ascertain whether the duopoly market has a greater coverage than a two-price monopoly market. Unlike in chapter 2, wedo not get a direct answer. Coverage could be higher in either of the two markets. However, as the value of search in the decentralized market decreases (and in the limit reaches zero), theduopoly market has greater coverage than a two-price monopoly market.^Finally we extend the model to allow for sequential entry. When intermediation is costless we find that the number of entrants tends to infinity and that matching is socially efficient. Howeverintroducing intermediation costs distorts this efficiency result and only a finite number of intermediaries enter the market.
Book Synopsis Dissertation Abstracts International by :
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009-09 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Models of Matching Markets by : Sangram Vilasrao Kadam
Download or read book Models of Matching Markets written by Sangram Vilasrao Kadam and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The structure, length, and characteristics of matching markets affect the outcomes for their participants. This dissertation attempts to fill the lacuna in our understanding about matching markets on three dimensions through three essays. The first essay highlights the role of constraints at the interviewing stage of matching markets where participants have to make choices even before they discover their own preferences entirely. Two results stand out from this setting. When preferences are ex-ante aligned, relaxing the interviewing constraints for one side of the market improves the welfare for everyone on the other side. Moreover, such interventions can lead to a decrease in the number of matched agents. The second essay elucidates the importance of rematching opportunities when relationships last over multiple periods. It identifies sufficient conditions for existence of a stable matching which accommodates the form of preferences we expect to see in multi-period environments. Preferences with inter-temporal complementarities, desire for variety and a status-quo bias are included in this setting. The third essay furthers our understanding while connecting two of the sufficient conditions in a specialized matching with contracts setting. It provides a novel linkage by providing a constructive way of arriving at a preference condition starting from another and thus proving that the later implies the former.
Book Synopsis Essays on the Formal Theory of Parties and Elections by : Luis Fernando Medina S.
Download or read book Essays on the Formal Theory of Parties and Elections written by Luis Fernando Medina S. and published by . This book was released on 2000 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Dynamic Contract Theory by : Rui Zhao
Download or read book Essays in Dynamic Contract Theory written by Rui Zhao and published by . This book was released on 2001 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Matching/implementation Theory by : Kim-Sau Chung
Download or read book Essays on Matching/implementation Theory written by Kim-Sau Chung and published by . This book was released on 1999 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Market Structure by : Feng Ruan
Download or read book Essays on Market Structure written by Feng Ruan and published by . This book was released on 2012 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Foundations of Social Theory by : James S. Coleman
Download or read book Foundations of Social Theory written by James S. Coleman and published by Harvard University Press. This book was released on 1994 with total page 1022 pages. Available in PDF, EPUB and Kindle. Book excerpt: Suggests a new approach to describing both stability and change in social systems by linking the behavior of individuals to organizational behavior.
Book Synopsis Essays in Industrial Organization by : Bryan Keating
Download or read book Essays in Industrial Organization written by Bryan Keating and published by . This book was released on 2007 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis American Doctoral Dissertations by :
Download or read book American Doctoral Dissertations written by and published by . This book was released on 2000 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multiagent Systems written by Yoav Shoham and published by Cambridge University Press. This book was released on 2008-12-15 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multiagent systems combine multiple autonomous entities, each having diverging interests or different information. This overview of the field offers a computer science perspective, but also draws on ideas from game theory, economics, operations research, logic, philosophy and linguistics. It will serve as a reference for researchers in each of these fields, and be used as a text for advanced undergraduate or graduate courses. The authors emphasize foundations to create a broad and rigorous treatment of their subject, with thorough presentations of distributed problem solving, game theory, multiagent communication and learning, social choice, mechanism design, auctions, cooperative game theory, and modal logics of knowledge and belief. For each topic, basic concepts are introduced, examples are given, proofs of key results are offered, and algorithmic considerations are examined. An appendix covers background material in probability theory, classical logic, Markov decision processes and mathematical programming.
Download or read book Social Design written by Walter Trockel and published by Springer. This book was released on 2019-05-30 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains invited essays in memory of Leonid Hurwicz spanning a large area of economic, social and other sciences where the implementation or enforcement of institutions and rules requires the design of effective mechanisms. The foundations of these articles are set by social choice concepts; game theory; Nash, Bayesian and Walrasian equilibria; complete and incomplete information. Besides in-depth treatments of well-established parts of mechanism and implementation theory, contributions on novel directions deal, for instance, with a quantum approach to game and decision making under uncertainty; digitalization; and the design of block chain for trading. The outstanding competence and reputation of the authors reflect the appreciation of the fundamental contributions and the lasting admiration of the personality and the work of Leonid Hurwicz.
Book Synopsis Understanding Development by : Swapnendu Banerjee
Download or read book Understanding Development written by Swapnendu Banerjee and published by Springer. This book was released on 2015-09-08 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses topical development issues in India, ranging from land acquisition, poverty alleviation programs, labor market issues, the public-private partnership (PPP) model and fiscal federalism. It offers an Indian perspective on the dynamics of economic development and the impact the country’s legal and public policies have on it. Economic development is a dynamic concept – old problems are solved, while at the same time new issues come to the fore. The emergence of these issues is unique to the development experience of an economy. The book includes sixteen recent contributions and is divided into four sections: law and contract; trade and foreign aid; issues in public economics; and the social sector and poverty alleviation. The chapters reflect on a number of development issues which were of concern for India in the recent past and will be important in her future development initiatives such as land acquisition, agricultural productivity, employment, protection of intellectual property rights, corruption, public-private partnership, regional development, poverty alleviations programs like the National Rural Employment Guarantee Act (NREGA) and the training of self-help group members, health and education of women, to name a few. The book is a valuable reference resource for policy practitioners and researchers working on the economics of development with special focus on developing economies.
Book Synopsis The Economics of Search by : Brian McCall
Download or read book The Economics of Search written by Brian McCall and published by Routledge. This book was released on 2007-12-20 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. In this book Brian and John McCall present a comprehensive overview of the economic theory of search, from the classical model of job search formulated 40 years ago to the recent developments in equilibrium models of search. The book gives decision-theoretic foundations to seemingly slippery issues in labour market theory, estimation theory and economic dynamics in general, and surveys the entire field of the economics of search, including its history, theory, and econometric applications. Theoretical models of the economics of search are covered as well as estimation methods used in search theory and topics covered include job search, turnover, unemployment, liquidity, house selling, real options and auctions. The mathematical methods used in search theory such as dynamic programming are reviewed as well as structural estimation methods and econometric methods for duration models. The authors also explore the classic sequential search model and its extensions in addition to recent advances in equilibrium search theory.
Book Synopsis Journal of Economic Dynamics & Control by :
Download or read book Journal of Economic Dynamics & Control written by and published by . This book was released on 2001 with total page 1276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
