FILE SELECTED // FILE 00
Market Design
“Changing matching rules can change who participates and which agreements survive.”
01 / SUMMARY
In short
Market design studies rules for allocating resources, matching participants, and running auctions when spontaneous exchange works poorly or prices cannot be used. Stability, incentives, and fairness may conflict.
03 / SCENE
In the wild
A medical placement system matches hospital and applicant preferences without selling each position to the highest bidder.
04 / LIMIT
The limit
An elegant mechanism cannot choose public goals or erase power, unequal information, and political judgment.
FINAL NOTE
What remains
Judge rules by the incentives they create and by who can participate or challenge them.