Past Awards
2024
Frederick W. Lanchester Prize:
Winner(s)
Winning material:
Collection of Papers: “Unbalanced random matching markets: The stark effect of competition” and “Clearing matching markets efficiently: informative signals and match recommendations”
Citation:
These papers have advanced the field of market design by providing fundamental insights into the performance of two-sided matching markets. By introducing a novel theoretical approach, they resolve a long-standing empirical puzzle: why the set of stable matchings is small in many practically important matching markets. Moreover, by creatively integrating match recommendations and signaling strategies, they demonstrate how to reduce congestion in these markets. These contributions have profoundly impacted both methodological work and practical applications focused on the conduct and organization of centralized and decentralized markets.