Matching Markets: Who gets what and why

Most of the study of economics deals with commodity markets, where the price of a good connects sellers and buyers. But what about other kinds of “goods,” like a kidney or a surrogacy arrangement.  This is the territory of matching markets, where “sellers” and “buyers” must choose each other, and where in most parts of the world, no money changes hands.  So what is a matching market?  And how does it work? In this bookpod, Craig Barfoot talks to Nobel Laureate Alvin Roth, Professor of Economics at Stanford University, and 2016 president elect for  of the American Economics Association about his book on matching markets,  Who Gets What and Why.  Professor Roth has made significant contributions to the fields of game theory, market design and experimental economics, and is known for his emphasis on applying economic theory to solutions for "real-world" problems. This bookpod was first aired on Ideas Books where you will find a feast of fascinating podcast interviews by Craig Barfoot.