NDLI: Computing Equilibrium in Matching Markets

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Computing Equilibrium in Matching Markets

Content Provider	ACM Digital Library
Author	Jalaly Khalilabadi, Pooya Alaei, Saeed Tardos, Eva
Abstract	Market equilibria of matching markets offer an intuitive and fair solution for matching problems without money with agents who have preferences over the items. Such a matching market can be viewed as a variation of Fisher market, albeit with rather peculiar preferences of agents. These preferences can be described by piece-wise linear concave (PLC) functions, which however, are not separable (due to each agent only asking for one item), are not monotone, and do not satisfy the gross substitute property-- increase in price of an item can result in increased demand for the item. Devanur and Kannan in FOCS 08 showed that market clearing prices can be found in polynomial time in markets with fixed number of items and general PLC preferences. They also consider Fischer markets with fixed number of agents (instead of fixed number of items), and give a polynomial time algorithm for this case if preferences are separable functions of the items, in addition to being PLC functions. Our main result is a polynomial time algorithm for finding market clearing prices in matching markets with fixed number of different agent preferences, despite that the utility corresponding to matching markets is not separable. We also give a simpler algorithm for the case of matching markets with fixed number of different items.
Starting Page	245
Ending Page	261
Page Count	17
File Format	PDF
ISBN	9781450345279
DOI	10.1145/3033274.3085150
Language	English
Publisher	Association for Computing Machinery (ACM)
Publisher Date	2017-06-20
Publisher Place	New York
Access Restriction	Subscribed
Subject Keyword	Mechanism design without money Market equilibria Fairness Equilibrium computation
Content Type	Text
Resource Type	Article

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