Working Paper: NBER ID: w31947
Authors: Alvin E. Roth
Abstract: Because no marketplace operates in isolation from the larger world, marketplace designs may need to adapt to changes in the larger environments. I discuss such changes in connection with the labor markets for new doctors, new Ph.D. economists, and for kidney exchange transplants. But while practical market design presents a host of challenges, it also offers many rewards. Among the rewards to market designers themselves is the opportunity to become intimately familiar with markets that shape the lives and careers of their participants.
Keywords: No keywords provided
JEL Codes: D47
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| External changes in the economy (F69) | Efficiency and functionality of market designs (D47) |
| Centralized clearinghouses (G18) | Improved market efficiency and stability in matching processes (D47) |
| Demographic changes (J11) | Ongoing redesigns of the matching algorithm (C78) |