Talk:Search and matching theory (economics)
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Nash bargaining
editTransfers in match can't be determined competitively. Need to add section on wage bargaining, including Nash bargaining game. Rinconsoleao (talk) 09:18, 2 February 2011 (UTC)
needs examples
editOpaque to reader not already familiar. Needs to start with illustrative example(s) run all the way through and illustrating context and all aspects of theory, then proceed from that foundation to a discussion of the general principles, and only then to mathematical formulation. — Preceding unsigned comment added by Ocdnctx (talk • contribs) 16:38, 15 October 2012 (UTC)
Dr. Echenique's comment on this article
editDr. Echenique has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
Identifies matching theory in economics with the "search and matching" literature in labor and macroeconomics. This gives the false impression that matching in economics only refers to search and matching. It wouldn't make sense to have an entry on matching cover both stable matching theory and search and matching, but the current solution is quite bad. As an entry on search and matching, this isn't bad, but I am also not the best person to judge.
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Dr. Echenique has published scholarly research which seems to be relevant to this Wikipedia article:
- Reference 1: Jorge Oviedo & Federico Echenique, 2005. "A Theory of Stability in Many-to-Many Matching Markets," 2005 Meeting Papers 233, Society for Economic Dynamics.
- Reference 2: Federico Echenique & Jorge Oviedo, 2003. "Core Many-to-one Matchings by Fixed-point Methods," Game Theory and Information 0302001, EconWPA.
Dr. Berliant's comment on this article
editDr. Berliant has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
Probably better to distinguish between normative (e.g. Gale-Shapley and the huge subsequent literature) and positive (e.g. Mortensen, Pisarides, Diamond). The positive side often involves market failures. These are really distinct literatures and problems. The focus of this article is on the positive literature. Should also discuss the Hosios condition.
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Dr. Berliant has published scholarly research which seems to be relevant to this Wikipedia article:
- Reference : Marcus Berliant & Robert R. Reed III & Ping Wang, 2005. "Knowledge Exchange, Matching, and Agglomeration," Urban/Regional 0506013, EconWPA, revised 07 Jul 2005.
Dr. Klijn's comment on this article
editDr. Klijn has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
The matching theory for which the 2012 Economic Prize Committee of the Royal Swedish Academy of Sciences was awarded does not make use of a "matching function" (which is the main topic of this wiki article!). It should be made clear that there are two streams of matching theory (the one that is currently described) and the one without a matching function, see for instance the book by Roth and Sotomayor (1990)
Even though matching theory can be seen as a subfield of economics, a large number of computer scientists have contributed to this theory, see e.g. the classic book of Gusfield and Irving: https://mitpress.mit.edu/books/stable-marriage-problem or more recently the book by Manlove:
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- Reference : Paula Jaramillo & Cagatay Kayi & Flip Klijn, 2012. "On the Exhaustiveness of Truncation and Dropping Strategies in Many-to-Many Matching Markets," Working Papers 632, Barcelona Graduate School of Economics.
Dr. Chiappori's comment on this article
editDr. Chiappori has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
This presents a very partial view of matching theory. The basic distinctions between Transferable Utility and Non Transferable Utility is not even mentioned; nor are the path-breaking works of Roth in the NTU case (medical interns, organs, ...) and the following literature produced by some of Roth's former students. Moreover, the presentation deals mostly with issues that are related to search models, although the distinction between matching and search is not even discussed.
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Dr. Chiappori has published scholarly research which seems to be relevant to this Wikipedia article:
- Reference : Chiappori, Pierre-Andre & Iyigun, Murat & Weiss, Yoram, 2008. "An Assignment Model with Divorce and Remarriage," IZA Discussion Papers 3892, Institute for the Study of Labor (IZA).
Dr. Lisi's comment on this article
editDr. Lisi has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
Dear all,
The work on matching theory is well done although very synthetic.
More details (text and bibliography) can be extract at the following link:
Indeed, it can be especially useful Section 2 of the paper.
I hope of being helpful.
Best regards,
Gaetano
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- Reference 1: Gaetano Lisi, 2013. "Can the Montersen-Pissarides Model Match the Housing Market Facts?," Working Papers 1312, Department of Applied Economics II, Universidad de Valencia.
- Reference 2: Lisi, Gaetano, 2013. "The Benchmark Macroeconomic Models of the Labour Market," MPRA Paper 62318, University Library of Munich, Germany.
Dr. Faig's comment on this article
editDr. Faig has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
This is a brief but good summary of what matching theory is about
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Dr. Faig has published scholarly research which seems to be relevant to this Wikipedia article:
- Reference 1: Miquel Faig, 2004. "Divisible Money in an Economy with Villages," Econometric Society 2004 North American Summer Meetings 248, Econometric Society.
- Reference 2: Miquel Faig, 2001. "A search theory of money and commerce with Neoclassical production," Economics Working Papers 567, Department of Economics and Business, Universitat Pompeu Fabra.
Dr. Herings's comment on this article
editDr. Herings has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
General comment:
This article is mainly about matching as used by labor economists. The work on matching theory for which the 2012 Economic Prize Committee of the Royal Swedish Academy of Sciences was awarded to Alvin E. Roth and Lloyd Shapley is completely ignored.
Where search theory studies the microeconomic decision of an individual searcher, matching theory studies the macroeconomic outcome when one or more types of searchers interact.[citation neededComment:
In a large stream of the literature, matching theory has very little to do with the study of macroeconomic outcomes.
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We believe Dr. Herings has expertise on the topic of this article, since he has published relevant scholarly research:
- Reference : Herings P.J.J. & Houba H, 2015. "Costless delay in negotiations," Research Memorandum 002, Maastricht University, Graduate School of Business and Economics (GSBE).
Dr. Mandelman's comment on this article
editDr. Mandelman has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
I think the article is fine, but could benefit from more elaboration. It is not clear how good/bad is the model to explain some labor market and aggregate facts. It should also summarize last key last contributions in the search and matching theory. I am not an specialist but below I am providing some references.
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We believe Dr. Mandelman has expertise on the topic of this article, since he has published relevant scholarly research:
- Reference : Mandelman, Federico S & Zanetti, Francesco, 2010. "Technology shocks, employment and labour market frictions," Bank of England working papers 390, Bank of England.
Dr. Camera's comment on this article
editDr. Camera has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
1. The section "applications" considers the role of money and cites Kiyotaki and Wright 1989.
There are papers that should definitely be cited, because they used search theory way before Kiyotaki and Wright:
- Hellwig, M.F. 1976. A Model of Monetary Exchange, Working paper, Princeton University. https://www.princeton.edu/~erp/ERParchives/archivepdfs/M202.pdf
Quote from the paper" I study the use of a medium of exchange in an economy with many agents who meet pairwise at random times."
- P. Diamond. 1984. Money in Search Equilibrium. Econometrica, 52(1), 1-20
Quote from the paper " This paper studies a simple general equilibrium search model where money is used for all transactions (no barter or credit)"
2. The sentence "The role of money in facilitating sales when sellers and buyers meet" is a bit strange. Search theory has been used to study the role of media of exchange in supporting decentralized exchanges.
3. The section "Controversy" is a bit strange. There are so many problems with search theory that pushing Shimer's agenda seems a bit off.
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We believe Dr. Camera has expertise on the topic of this article, since he has published relevant scholarly research:
- Reference 1: Gabriele Camera & Jaehong Kim, 2015. "Dynamic Directed Search," Working Papers 15-06, Chapman University, Economic Science Institute.
- Reference 2: Aliprantis, C. D. & Camera, G. & Puzzelo, D., 2004. "A Random Matching Theory," Purdue University Economics Working Papers 1168, Purdue University, Department of Economics.
Dr. Moldovanu's comment on this article
editDr. Moldovanu has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
The article mentions one applcation of matching ( mostly used in labor and macroeconomics), but completely overlooks the large, extremely influential body of theory stemming from the work of Gale and Shapley . It needs lots of work to bring it to something useful.
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We believe Dr. Moldovanu has expertise on the topic of this article, since he has published relevant scholarly research:
- Reference : Hoppe, Heidrun C. & Moldovanu, Benny & Ozdenoren, Emre, 2007. "Coarse Matching and Price Discrimination," CEPR Discussion Papers 6041, C.E.P.R. Discussion Papers.
Dr. Colciago's comment on this article
editDr. Colciago has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
In economics, matching theory, also known as search and matching theory, is a mathematical framework attempting to describe the formation of mutually beneficial relationships over time. It should be specified that this framework is characterized by search ocsts that lead to inefficiencies in equilibrium.
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- Reference : colciago, andrea & Rossi, Lorenza, 2011. "Endogenous Market Structures and the Business Cycle," MPRA Paper 29629, University Library of Munich, Germany.
Dr. Walde's comment on this article
editDr. Walde has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:
A citation on "when one or more types of searchers interact" could be the "Rogerson, Shimer and Wright (2005), Search-Theoretic Models of the Labor Market: A Survey, Journal of Economic Literature”.
Concerning "one of the founders of matching theory": One could rather write somethin like "The origin of search and matching theory is usually attributed to Peter A. Diamond (1981, 1982a, 1982b), Mortensen (1982a, 1982b), and Pissarides (1984, 1985)" (where references are in the Rogerson Shimer Wright paper).
Under applications, one could write pages and pages. One area which should be added in analysis of economic policy and especially labour market reforms. Examples include Launov and Wälde
The Employment Effect of Reforming a Public Employment Agency. European Economic Review 84 (2016): 140- 164
Estimating Incentive and Welfare Effects of Non-Stationary Unemployment Benefits International Economic Review 54 (2013): 1159-1198
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We believe Dr. Walde has expertise on the topic of this article, since he has published relevant scholarly research:
- Reference : Andrey Launov & Klaus Walde, 2010. "Estimating Incentive and Welfare Effects of Non-Stationary Unemployment Benefits," Working Papers 1007, Gutenberg School of Management and Economics, Johannes Gutenberg-Universitat Mainz, revised 21 May 2010.
Splitting search and matching from stable matching
editAs noted in most of the comments on this article. Search and matching is not the same as stable matching theory. I have made a new article on stable matching theory and propose this article be renamed to 'Search and matching theory'. — Preceding unsigned comment added by Venac (talk • contribs) 20:41, 29 December 2020 (UTC)