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Poslední úprava: doc. PhDr. Martin Gregor, Ph.D. (05.12.2017) This is an advanced undergraduate course introducing the students to the issues of market design: how to solve problems of economic resource allocation via markets. We will pay special attention to markets where prices cannot be used to match supply and demand. We will begin by studying matching algorithms: how to match doctors to hospitals, how to design an exchange for organ transplants, how to match students to schools or dormitories etc. We will prove some important results about properties of some of the leading matching algorithms. We will also look at data to investigate empirically (and experimentally) why some centralized clearing houses might have failed and some survived. Depending on time we will also look at issues caused by asymmetric information: why some markets may unravel completely when asymmetric information between sellers and buyers might be present and how this can be solved. |
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Poslední úprava: doc. PhDr. Martin Gregor, Ph.D. (05.12.2017) Introductory reading: Roth, Alvin: "What Have We Learned from Market Design?", The Economic Journal, Vol. 118, No. 527, Conference Papers (Mar., 2008), pp. 285310. http://www.jstor.org/stable/20108798 Suggested sources: A book that covers a lot of topics in Market Design that I recommend:
An interesting book with a lot of interesting stories about various markets and market failures from the past:
A subset of papers that address the topics we will cover:
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Poslední úprava: Ing. Dagmar Schnellerová (02.01.2018) The class will meet (subject to further changes) on January 10, January 11 from 14:00 to 17:00 in room 314 and January 12, 2018 from 9:00 to 12:00 in room 314. |
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Poslední úprava: doc. PhDr. Martin Gregor, Ph.D. (29.01.2018) The final exam will be a takehome: the students will work on it independently. In the year 2017/2018, the exam is graded as follows: A: 170+ |