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15 OCTOBER 2012 Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2012 STABLE ALLOCATIONS AND THE PRACTICE OF MARKET DESIGN compiled by the Economic Sciences Prize Committee of the Royal Swedish Academy of Sciences THE ROYAL SWEDISH ACADEMY OF SCIENCES has as its aim to promote the sciences and strengthen their influence in society. BOX 50005 (LILLA FRESCATIVÄGEN 4 A), SE-104 05 STOCKHOLM, SWEDEN TEL +46 8 673 95 00, FAX +46 8 15 56 70, [email protected] HTTP: //KVA.SE

STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members

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Page 1: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members

15 OCTOBER 2012

Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2012

S TA B L E A L L O C AT I O N S A N D

T H E P R AC T I C E O F M A R K E T D E S I G N

compiled by the Economic Sciences Prize Committee of the Royal Swedish Academy of Sciences

THE ROYAL SWEDISH ACADEMY OF SCIENCES has as its aim to promote the sciences and strengthen their influence in society.

BOX 50005 (LILLA FRESCATIVÄGEN 4 A), SE-104 05 STOCKHOLM, SWEDEN TEL +46 8 673 95 00, FAX +46 8 15 56 70, [email protected] HTTP://KVA.SE

Page 2: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 3: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 4: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 5: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 6: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 7: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 8: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 9: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 10: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 11: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 12: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 13: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 14: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 15: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 16: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 17: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 18: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 19: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 20: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 21: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 22: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 23: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 24: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 25: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 26: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 27: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 28: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 29: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 30: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 31: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 32: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 33: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 34: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 35: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 36: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 37: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 38: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 39: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 40: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 41: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 42: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 43: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members
Page 44: STABLE ALLOCATIONS AND THE PRACTICE OF ......worth is an economic surplus (a sum of money) that coalition S can generate using its own resources. If coalition S forms, then its members

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