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January 5 - January 22, 2019
When there aren’t enough kidneys to go around (and there aren’t) or seats in the best public schools (there never are), scarce resources must be allocated by some kind of matching process.
book. Almost all American doctors, for example, get their first jobs through a clearinghouse called the National Resident Matching Program. In the mid-1990s, I directed the redesign of the NRMP’s matchmaking algorithm, which today matches more than 20,000 young doctors with about 4,000 residency programs every year.
Efforts to keep markets thick often concern the timing of transactions. When should offers be made? How long should they be left open?
