Who gets what-- and why : the hidden world of matchmaking and market design

In matching markets, where 'sellers' and 'buyers' must choose each other, some surprising rules govern a vast array of our activities -- both mundane and life-changing -- where money has little or no role in who gets what. From applying for a job to asking someone out on a date, or getting your child into the best school or university, matching plays a crucial and invisible part. It accounts for some of the biggest technological successes of the decade, like Uber and Airbnb, and can even be the gatekeeper of life itself, guiding how desperately ill patients receive scarce organs for transplants. Nobel Prize-winner Al Roth is one of the world's leading experts on matching markets. He even designed several of them, including the system that increases the number of kidney transplants by better matching donors to patients. In Who Gets What and Why, his life's work provides an x-ray of the market designs you don't see. It shows how to recognize a good match and make smarter, more confident decisions"--Jacket Read more... Abstract: How our lives are shaped not only by the choices we make, but by the choices we have. Read more...

How our lives are shaped not only by the choices we make, but by the choices we have.

In many parts of life – jobs, housing, medical care, education, even a date on the internet – price is not the only determinant of who gets what. So how do the other processes that influence who gets which goods, jobs, university places and partners really work?

In ‘Who Gets What’, Nobel Prize winning economist Alvin Roth uncovers the global rules of how markets allocate, how matchmaking shapes lives, where markets exist that we may not even realise, and how everything about our biggest experiences – from getting accepted at university or living where we want – can be better understood and negotiated when one understands the design of those matching markets. The distribution of rewards is often unfair, but it’s seldom as random as it seems, and Roth reveals just how much of our life takes place in marketplaces, and leads us to a new understanding of who gets what and why.

For fans of ‘Freakonomics’ and ‘Thinking Fast and Slow’ this groundbreaking book sheds new light on the politics of free markets, and how many things that we choose in life also must choose us.

From A Nobel-prize Winning Economist, A Fascinating And Accesible Look At How Our Lives Are Shaped Not Only By The Choices We Make, But By The Choices We Have. In Many Parts Of Life - Jobs, Housing, Medical Care, Education, Even A Date On The Internet - Price Is Not The Only Determinant Of Who Gets What. So How Do The Other Processes That Influence Who Gets Which Goods, Jobs, University Places And Partners Really Work? In Who Gets What Nobel Prize Winning Economist Alvin Roth Uncovers The Global Rules Of How Markets Allocate, How Matchmaking Shapes Lives, Where Markets Exist That We May Not Even Realise, And How Everything About Our Biggest Experiences - From Getting Accepted At University Or Living Where We Want - Can Be Better Understood And Negotiated When One Understands The Design Of Those Matching Markets. The Distribution Of Rewards Is Often Unfair, But It's Seldom As Random As It Seems, And Roth Reveals Just How Much Of Our Life Takes Place In Marketplaces, And Leads Us To A New Understanding Of Who Gets What And Why. For Fans Of 'freakonomics And Thinking Fast And Slow This Groundbreaking Book Sheds New Light On The Politics Of Free Markets, And How Many Things That We Choose In Life Also Must Choose Us. "A Nobel laureate reveals the often surprising rules that govern a vast array of activities -- both mundane and life-changing -- in which money may play little or no role. 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. 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? 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. Alvin E. Roth is one of the world's leading experts on matching markets. He has even designed several of them, including the exchange that places medical students in residencies and the system that increases the number of kidney transplants by better matching donors to patients. In Who Gets What -- And Why, Roth reveals the matching markets hidden around us and shows how to recognize a good match and make smarter, more confident decisions"-- This essay examines how repugnance sometimes constrains what transactions and markets we see. When my colleagues and I have helped design markets and allocation procedures, we have often found that distaste for certain kinds of transactions is a real constraint, every bit as real as the constraints imposed by technology or by the requirements of incentives and efficiency. I'll first consider a range of examples, from slavery and indentured servitude (which are much more repugnant now than they once were) to lending money for interest (which used to be widely repugnant but no longer is), and from bans on eating horse meat in California to bans on dwarf tossing in France. An example of special interest will be the widespread laws against the buying and selling of organs for transplantation. The historical record suggests that while repugnance can change over time, it can persist for a very long time, although changes in institutions that reflect repugnance can occur relatively quickly when the underlying repugnance changes.