Branch selection is a key decision in a cadet's military career. Cadets at USMA can increase
their branch priorities at a fraction of slots by extending their service agreement. This real …

We introduce a model in which agents in a network can trade via bilateral contracts. We find
that when continuous transfers are allowed and utilities are quasi-linear, the full …

Market design seeks to translate economic theory and analysis into practical solutions to
real-world problems. By redesigning both the rules that guide market transactions and the …

We show how frictions and continuous transfers jointly affect equilibria in a model of
matching in trading networks. Our model incorporates distortionary frictions such as …

We introduce a new matching model in which firms trade goods via bilateral contracts which
specify a buyer, a seller, and the terms of the exchange. This framework subsumes all …

In matching models, pairwise-stable outcomes do not generally exist without substantial
restrictions on both preferences and the topology of the network of contracts. We address the …

We consider a model of matching in trading networks in which firms can enter into bilateral
contracts. In trading networks, stable outcomes, which are immune to deviations of arbitrary …

Various forms of substitutability are essential for establishing the existence of equilibria and
other useful properties in diverse settings such as matching, auctions, and exchange …

We consider general trading networks with bilateral contracts. We show that a suitably
adapted chain stability concept is equivalent to stability if all agents' preferences are jointly …

We consider a multilateral matching market, where two or more agents can engage in a joint
venture via multilateral contracts. Possible joint ventures are exogenously given. We study …