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Paper Information

Journal:   MAJLIS & RAHBORD   FALL 2014 , Volume 21 , Number 79; Page(s) 123 To 151.
 
Paper: 

DESIGNING MARKET, ROTH’S ANALYTICAL FRAMEWORK FOR UNDERSTANDING PERFORMANCE OF MARKET

 
 
Author(s):  NASSIRI AGHDAM ALI, REZAEE MOHAMMAD JAVAD, MOWAHHEDI MEHDI
 
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Abstract: 

This paper aims to draw on Alvin E. Roth’s analytical framework, the owner of Nobel Prize in economics in 2012 in order to design market and apply it. Research has shown that Roth begins with identifying the market failure and emphasizes that the market failure usually is a result of the institutional conditions such as "week market", "crowd" and "absence of safety in displaying preferences". Roth used matching algorithm and specially Gale-Shapley’s Algorithm to come over the market failure, and in the course of "try and error", he focuses on interaction with actors for adjusting the primary algorithm. so far, Roth and his colleagues have applied this theory to different markets such as "kidney exchange", "school selection-student acceptance", "market of physicians" and "market of economists".

 
Keyword(s): GALE-SHAPLEY’S ALGORITHM, ALVIN E. ROTH, MATCHING, MARKET FAILURE, DESIGNING MARKET, THEORY OF SUSTAINABLE ALLOCATIONS
 
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