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econ.TH2025
What Pareto-Efficiency Adjustments Cannot Fix
Josue Ortega, Gabriel Ziegler, R. Pablo Arribillaga +1
The Deferred Acceptance (DA) algorithm is stable and strategy-proof, but can produce outcomes that are Pareto-inefficient for students, and thus several alternative mechanisms have…
econ.TH2024
The Large and Likely Inefficiency of Stable Matching Mechanisms
Josue Ortega, Gabriel Ziegler, R. Pablo Arribillaga +1
We prove that any stable matching mechanism suffers from systematic inefficiency of striking magnitude: in large random markets, any stable allocation is Pareto-inefficient with hi…