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Distance on matchings: an axiomatic approach

Author

Listed:
  • Can, Burak

    (Department of Data Analytics and Digitalisation, Maastricht University)

  • Pourpouneh, Mohsen

    (Center for Blockchains and Electronic Markets, University of Copenhagen)

  • Storcken, Ton

    (Department of Quantitative Economics, Maastricht University)

Abstract
Matchings in a market may have varying degrees of compromise from efficiency, fairness, and or stability. A distance function allows to quantify such concepts or the (dis)similarity between any two matchings. There are a few attempts to propose such functions, however these are tailored for specific applications and ignore the individual preferences completely. In this paper, we construct a normative framework to quantify the difference between outcomes of market mechanisms in matching markets, while endogenizing the preferences of the individuals into the distance concept. Several conditions are introduced to capture natural and appealing behavior of such functions. We find a class of distance functions called \textit{scaled Borda distances}, which is the only class of distance functions that satisfies these conditions simultaneously.

Suggested Citation

  • Can, Burak & Pourpouneh, Mohsen & Storcken, Ton, 2023. "Distance on matchings: an axiomatic approach," Theoretical Economics, Econometric Society, vol. 18(2), May.
    • Handle: RePEc:the:publsh:4882
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Matching markets; distance function; metrics;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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