What is Market Design?
- There is a multitude of products in the market
- Many firms producing the products
- Many different customers/Individuals/Firms
- Producers have different internal cost structures
- Customers have different needs, preferences and budgets
Different Mechanism
Top Trading Cycles
Chinese College Admissions
本质上还是 DA，主要的变动是 的引入，导致会有一个截断。 Special: Application-rejection mechanism.
- When , it is Boston Mechanism.
- When , it is Shanghai Mechanism.
Two-stage Chinese College Mechanism
Involves Major types.