Intro -- Table of Contents -- Preface -- 1. Introduction -- 2. (Near-)Substitutes, Prices, and Stability -- 3. Vickrey Auctions and Substitution -- 4. Deferred-Acceptance Auctions and Near-Substitutes -- 5. Conclusion -- Notes -- References -- Index

Traditional economics focuses on hypothetical markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of the invisible hand, which guides markets and renders regulation or interference largely...