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Stable Matching Theory
In economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ..., stable matching theory or simply matching theory, is the study of matching markets. Matching markets are distinguished from Walrasian markets in the focus of who matches with whom. Matching theory typically examines matching in the absence of search frictions, differentiating it from search and matching theory. In 2012, the Nobel Memorial Prize in Economic Sciences was awarded to Alvin E. Roth and Lloyd Shapley for their work on matching theory. Overview Matching has two main categories. One category is matching with nontransferrable utility (NTU), where match payoffs are nontransferable and stability requires individual rationality and double coincidence of wants. This strand of the literature emerged from the Dav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Transportation Theory (mathematics)
In mathematics and economics, transportation theory or transport theory is a name given to the study of optimal transportation and allocation of resources. The problem was formalized by the French mathematician Gaspard Monge in 1781.G. Monge. ''Mémoire sur la théorie des déblais et des remblais. Histoire de l’Académie Royale des Sciences de Paris, avec les Mémoires de Mathématique et de Physique pour la même année'', pages 666–704, 1781. In the 1920s A.N. Tolstoi was one of the first to study the transportation problem mathematically. In 1930, in the collection ''Transportation Planning Volume I'' for the National Commissariat of Transportation of the Soviet Union, he published a paper "Methods of Finding the Minimal Kilometrage in Cargo-transportation in space". Major advances were made in the field during World War II by the Soviet mathematician and economist Leonid Kantorovich.L. Kantorovich. ''On the translocation of masses.'' C.R. (Doklady) Acad. Sci. URSS (N.S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Search And Matching Theory
In economics, search and matching theory is a mathematical framework attempting to describe the formation of mutually beneficial relationships over time. It is closely related to stable matching theory. Search and matching theory has been especially influential in labor economics, where it has been used to describe the formation of new jobs. Search and matching theory evolved from an earlier framework called 'search theory'. Where search theory studies the microeconomic decision of an individual searcher, search and matching theory studies the macroeconomic outcome when one or more types of searchers interact. It offers a way of modeling markets in which frictions prevent instantaneous adjustments of the level of economic activity. Among other applications, it has been used as a framework for studying frictional unemployment. One of the founders of search and matching theory is Dale T. Mortensen of Northwestern University. A textbook treatment of the matching approach to labor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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National Resident Matching Program
The National Resident Matching Program (NRMP), also called The Match, is a United States–based private non-profit non-governmental organization created in 1952 to place U.S. Medical education in the United States, medical school students into residency (medicine), residency training programs located in United States teaching hospitals. Its mission has since expanded to include the placement of U.S. citizen and non-U.S. citizen international medical school students and graduates into residency and fellowship training programs. In addition to the annual Main Residency Match that in 2021 encompassed more than 48,000 applicants and 38,000 positions, the NRMP conducts Fellowship Matches for more than 60 subspecialties through its Specialties Matching Service (SMS). The NRMP is sponsored by a board of directors that includes medical school deans, teaching hospital executives, graduate medical education program directors, medical students and residents, and one public member. NRMP Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Market Design
Market design is an interdisciplinary, ilgrom Nemmers Prize Presentation Slides, 2008 engineering-driven approach to economics and a practical methodology for creation of markets of certain properties, which is partially based on mechanism design. In market design, the focus is on the rules of exchange, meaning who gets allocated what and by what procedure. Market design is concerned with the workings of particular markets in order to fix them when they are broken or to build markets when they are missing. Practical applications of market design theory has included labor market matching (e.g. the national residency match program), organ transplantation, school choice, university admissions, and more. Auction theory Early research on auctions focused on two special cases: common value auctions in which buyers have private signals of an items true value and private value auctions in which values are identically and independently distributed. Milgrom and Weber (1982) present a much m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Stable Roommates Problem
In mathematics, economics and computer science, particularly in the fields of combinatorial game theory and algorithms, the stable-roommate problem (SRP) is the problem of finding a stable matching for an even-sized set. A matching is a separation of the set into disjoint pairs ("roommates"). The matching is ''stable'' if there are no two elements which are not roommates and which both prefer each other to their roommate under the matching. This is distinct from the stable matching problem (stable-marriage problem) in that the stable-roommates problem allows matches between any two elements, not only between classes of ''men'' and ''women''. It is commonly stated as: : In a given instance of the stable-roommates problem (SRP), each of ''2n'' participants ranks the others in strict order of preference. A matching is a set of ''n'' disjoint pairs of participants. A matching ''M'' in an instance of SRP is stable if there are no two participants ''x'' and ''y'', each of whom prefers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Journal Of Economic Literature
The ''Journal of Economic Literature'' is a peer-reviewed academic journal, published by the American Economic Association, that surveys the academic literature in economics. It was established by Arthur Smithies in 1963 as the ''Journal of Economic Abstracts'',Journal of Economic Literature: About JEL , retrieved 6 May 2011. and is currently one of the highest ranked journals in economics. /ref> As a , it mainly features essays and reviews of recent economic theories (as opposed to the latest research). The |
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Gary Becker
Gary Stanley Becker (; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics. Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. A 2011 survey of economics professors named Becker their favorite living economist over the age of 60, followed by Kenneth Arrow and Robert Solow. Economist Justin Wolfers called him "the most important social scientist in the past 50 years." Becker was one of the first economists to analyze topics that had been researched in sociology, including racial discrimination, crime, family organization, and rational addiction. He argued that many different types of human behavior can be seen as rational and utility-maximizing, including those that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Martin Shubik
Martin Shubik (1926–2018) was an American mathematical economist who specialized in game theory, defense analysis, and the theory of money. The latter was his main research interest and he referred to it as his "white whale". He also coined the term "mathematical institutional economics" in 1959 to describe his scholarly approach to studying the economy. He spent the majority of his career at Yale University Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ..., where he was heavily involved with the Cowles Foundation for Research in Economics, and launched the virtuaMuseum of Money and Financial Institutions Outside of economics, he began studying inclusion body myositis (IBM) after a 2003 diagnosis. He provided seed money to the Yale School of Public Health for thIBM Disease Reg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Beckmann
Beckmann is a German surname. Notable people with the surname include: *Astrid Beckmann (born 1957), German physicist *Ernst Otto Beckmann (1853–1923), German chemist and discoverer of the Beckmann rearrangement * Friedrich Beckmann (1803–1866), German actor *Johann Beckmann (1739–1811), German scientific author *Juan Domingo Beckmann (born 1967), Mexican businessman *Juan Beckmann Vidal (born 1940), Mexican businessman * Klaus Beckmann (1944–1994), German politician *Ludwig Beckmann (died 20 January 1965), German First World War flying ace *Matthias Beckmann (born 1984), German jazz musician *Max Beckmann (1884–1950), German painter *Petr Beckmann (1924–1993), Czech-American dissident physicist *Reinhold Beckmann (born 1956), German journalist and TV presenter *Rudolf Beckmann (1910–1943), German Nazi SS-Oberscharführer *Josef Beckmann (1920–2001), World War II German lieutenant See also *Beckman (surname) *Beckman (other) Beckman m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Koopmans
Koopmans is a Dutch occupational surname meaning "merchant's". at the Database of Surnames in The Netherlands Notable people with the surname include: * (1946–2007), Dutch businessman * Ger Koopmans (born 1962), Dutch CDA politician * Leo Koopmans (born 1953), Dutch ice hockey player * (born 1993), Dutch football goalkee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Leonid Kantorovich
Leonid Vitalyevich Kantorovich (, ; 19 January 19127 April 1986) was a Soviet mathematician and economist, known for his theory and development of techniques for the optimal allocation of resources. He is regarded as the founder of linear programming. He was the winner of the Stalin Prize in 1949 and the Nobel Memorial Prize in Economic Sciences in 1975. Biography Kantorovich was born on 19 January 1912, to a Russian Jewish family. His father was a doctor practicing in Saint Petersburg. In 1926, at the age of fourteen, he began his studies at Leningrad State University. He graduated from the Faculty of Mathematics and Mechanics in 1930, and began his graduate studies. In 1934, at the age of 22 years, he became a full professor. In 1935 he received his doctoral degree. Later, Kantorovich worked for the Soviet government. He was given the task of optimizing production in a plywood industry. He devised the mathematical technique now known as linear programming in 1939, some y ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |