In this paper we study marriage formation through a two-sided secretary problem approach. We consider individuals with nontransferable utility and two different dimensions of heterogeneity, a characteristic evaluated according to the idiosyncratic preferences of potential partners, and an...

This article is concerned with the welfare properties of trade when the behavior of agents cannot be rationalized by preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so: firstly, the finiteness of such problems entails...

This article is concerned with the welfare properties of trade when the behavior of agents cannot be rationalized by preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so: firstly, the finiteness of such problems entails...

This paper analyzes farsighted stable sets when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying two properties of path-persistence and consistency. We show that farsighted stable sets with heterogeneous expectations always exist and...