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Published January 2017 | Accepted Version
Journal Article Open

Ordinal and cardinal solution concepts for two-sided matching


We characterize solutions for two-sided matching, both in the transferable- and in the nontransferable-utility frameworks, using a cardinal formulation. Our approach makes the comparison of the matching models with and without transfers particularly transparent. We introduce the concept of a no-trade stable matching to study the role of transfers in matching. A no-trade stable matching is one in which the availability of transfers does not affect the outcome.

Additional Information

© 2015 Elsevier Inc. Received 1 May 2014, Available online 21 October 2015. The authors wish to thank Juan Pereyra Barreiro and Aditya Kuvalekar for many useful suggestions, and for pointing out a mistake in one of the examples in a previous version of the paper. 2This research has received funding from the European Research Council under the European Union's Seventh Framework Programme (FP7/2007–2013)/ ERC grant agreement no 313699.

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