Who Gets What—and Why

Alvin E. Roth

• Publisher: Harper Business
• Year: 2015
• Print ISBN:
  9780544705289
• eBook ISBN:
  9780544288393
• Topic: Economics
• Subtopic: Economic Theory
• Index: Economics

From the winner of the Nobel Prize in Economics, a "fluent and accessible" guide to understanding matching markets (Economist.com).
"An exciting practical approach to economics that enables both individuals and institutions to achieve their goals without running afoul of the profit motive." — Kirkus Reviews (starred review)
 
Most of the study of economics deals with commodity markets, where the price of a good connects sellers and buyers. But what about other kinds of "goods," like a spot in the Yale freshman class or a position at Google? If you've ever sought a job or hired someone, applied to college or guided your child into a good kindergarten, asked someone out on a date or been asked out, you've participated in a kind of market. This is the territory of matching markets, where "sellers" and "buyers" must choose each other, and price isn't the only factor determining who gets what.
In  Who Gets What—and Why, Nobel laureate Alvin E. Roth reveals the matching markets hidden around us and shows us how to recognize a good match and make smarter, more confident decisions.
"In this fascinating, often surprising book, Alvin Roth guides us through the jungles of modern life, pointing to the many markets that are hidden in plain view all around us." —Dan Ariely, author of  Predictably Irrational and  The (Honest) Truth About Dishonesty
"Mr. Roth's work has been to discover the most efficient and equitable methods of matching, and implement them in the world. He writes with verve and style . . .  Who Gets What—and Why is a pleasure to read." — Wall Street Journal
 
"A book filled with wit, charm, common sense, and uncommon wisdom." —Paul Milgrom, professor of economics, Stanford University and Stanford Business School

Index

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A

Abdulkadiroğlu, Atila, 35, 107, 153

on school choice, 126–28, 165, 241, 243

Abraham, David, 236

activity rules, 187–88

advertising, targeted, 189–92

“Advice to a Young Tradesman, Written by an Old One” (Franklin), 200–201

Affordable Care Act, 224

Airbnb, 99–103, 116

algorithms

Boston Public Schools, 122–28

computerized markets and, 225–26

deferred acceptance, 141–44

in Boston Public Schools system, 162–65

in New York school choice program, 155–61

for financial marketplaces, 82–89

Internet dating sites, 176–77

kidney exchange, 35–38, 39–41

for medical residencies, 136–43

Roth-Peranson, 148–49

stable outcomes from, 139–43

Alliance for Paired Donation, 44, 49

Amazon, 20–21, 22

congestion management in, 24

simplicity in, 26

Ambuehl, Sandro, 245

American Economic Association, 174, 175

Android, 21–22

anonymity, in commodity markets, 19–20

antibiotics, 133–34

Apple, 19

iPhone, 21–22, 24

application and selection processes, 5. See also labor markets

for college admissions, 5–6, 169, 170–73

in law firm recruiting, 65–68

signaling in, 169–73

strategic decision making in, 10–11

apps, 21–22

Arunta people, 71–72

Ashlagi, Itai, 48, 149, 235, 239, 243, 244

auctions, 121–22, 180–89, 244

ascending bid, 182, 184, 188–89

eBay, 104–5

first-price, 184–85

package bidding in, 188–89, 225–26

price discovery in, 185–89

sealed bid, 182–84

second-price sealed, 182–84

simultaneous ascending, 18...

Table of contents

• Title Page
• Contents
• Copyright
• Dedication
• Acknowledgments
• Markets Are Everywhere
• Introduction: Every Market Tells a Story
• Markets for Breakfast and Through the Day
• Lifesaving Exchanges
• Thwarted Desires: How Marketplaces Fail
• Too Soon
• Too Fast: The Greed for Speed
• Congestion: Why Thicker Needs to Be Quicker
• Too Risky: Trust, Safety, and Simplicity
• Design Inventions to Make Markets Smarter, Thicker, and Faster
• The Match: Strong Medicine for New Doctors
• Back to School
• Signaling
• Forbidden Markets and Free Markets
• Repugnant, Forbidden . . . and Designed
• Free Markets and Market Design
• Notes
• Index
• About the Author