Alvin Roth on Matching Markets

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4.7 • 4.4K Ratings

🗓️ 6 July 2015

⏱️ 63 minutes

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Summary

Nobel Laureate Alvin Roth of Stanford University talks with EconTalk host Russ Roberts about his work on matching markets. Examples include marriage, matching kidney donors to kidney recipients, and students to schools in cities that allow choice in their public school systems. Roth also discusses repugnance--the unease some people have with allowing buying and selling of some goods and what it's like to watch a kidney transplant knowing your research has helped make the surgery possible.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find links
0:16.3	and other information related to today's conversation.
0:19.0	You'll also find our archives where you can listen to every episode we've ever done going
0:23.2	back to 2006.
0:25.4	Our email address is mailadycontalk.org.
0:27.9	We'd love to hear from you.
0:32.0	Today is June 29th, 2015, and my guest is Alvin Roth, Nobel Laureate, and the Craig
0:38.8	and Susan McCopper, Professor of Economics at Stanford University.
0:42.0	He is the author of Who Gets What and Why Alvin Welcome to Econ Talk.
0:47.0	Thank you.
0:48.0	Now, early in your book, you give some examples of markets that struggle to reach the outcome
0:54.2	that we might hope they achieve often because they don't use prices to clear the market.
0:59.4	There may be legal restrictions, but sometimes there are inherent aspects of the market,
1:04.5	what you call thinness or other problems.
1:07.5	What are some of the examples of markets that you've studied and what are their problems?
1:12.6	Well, let me start by mentioning that a lot of the markets that I study are matching
1:16.8	markets in which prices alone don't clear the market, but there are other institutions
1:22.4	to help clear it.
1:23.4	So labor markets are like these, and they're among the markets that I've studied.
1:27.6	And in labor markets, as in other matching markets, you can't just choose what you want.
	...

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