Abstract
Stability and “no justified envy” are used almost synonymously in the matching theory literature. However, they are conceptually different and have logically separate properties. We generalize the definition of justified envy to environments with arbitrary school preferences, feasibility constraints, and contracts, and show that stable allocations may admit justified envy. When choice functions are substitutable, the outcome of the deferred acceptance algorithm is both stable and admits no justified envy.
Original language | English (US) |
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Pages (from-to) | 357-366 |
Number of pages | 10 |
Journal | Games and Economic Behavior |
Volume | 148 |
DOIs | |
State | Published - Nov 2024 |
All Science Journal Classification (ASJC) codes
- Finance
- Economics and Econometrics