Who Gets What — and Why: The New Economics of Matchmaking and Market Design

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“In his fluent and accessible book, Mr. Roth vividly describes the successes of market design.” — Economist.com​

“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

 
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.
 
“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
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About the author

ALVIN E. ROTH, Ph.D., is the McCaw Professor of Economics at Stanford University and is one of the world’s leading experts in the fields of market design and game theory. He was a corecipient of the 2012 Nobel Prize in Economics.
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Additional Information

Publisher
Houghton Mifflin Harcourt
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Published on
Jun 2, 2015
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Pages
224
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ISBN
9780544288393
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Language
English
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Genres
Business & Economics / Economics / General
Business & Economics / Economics / Theory
Mathematics / Game Theory
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom

Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory.

Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions.

Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory.

New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis
Participatory experiments that connect behavioral theory and laboratory research
Largely self-contained chapters that can each be covered in a single class
Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software
End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided
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Called the "prisoner's dilemma," it is a disturbing and mind-bending game where two or more people may betray the common good for individual gain. Introduced shortly after the Soviet Union acquired the atomic bomb, the prisoner's dilemma quickly became a popular allegory of the nuclear arms race. Intellectuals such as von Neumann and Bertrand Russell joined military and political leaders in rallying to the "preventive war" movement, which advocated a nuclear first strike against the Soviet Union. Though the Truman administration rejected preventive war the United States entered into an arms race with the Soviets and game theory developed into a controversial tool of public policy—alternately accused of justifying arms races and touted as the only hope of preventing them.

A masterful work of science writing, Prisoner's Dilemma weaves together a biography of the brilliant and tragic von Neumann, a history of pivotal phases of the cold war, and an investigation of game theory's far-reaching influence on public policy today. Most important, Prisoner's Dilemma is the incisive story of a revolutionary idea that has been hailed as a landmark of twentieth-century thought.
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