Tuesday, October 27, 2015

Chapter 4 of Who Gets What and Why, in the Milken Institute Review (with art work...)

The Milken Institute Review, Fourth Quarter 2015, has published an excerpt--Chapter 4--of Who Gets What and Why.  It comes with illustrations, which aren't in the original. The chapter is mostly about unraveling, and includes discussion of college football bowls, the market for law school graduates, and medical fellowships...and why Oklahomans are called "Sooners," and fraternity and sorority recruitment is called "rush."

Book Excerpt--Who Gets What and Why

Here's the introduction to the excerpt, by Peter Passell

"Alvin Roth, the author of this excerpt from Who Gets What – and Why,* won a Nobel in economics in 2012 for his work on the “the theory of stable allocations and the practice of market design.” I know, I know: that’s hardly an intro likely to induce you to dive right in. Most Nobels in economics, after all, are awarded for accomplishments that are too arcane for mere mortals to comprehend. And even the prize winners who do have something pressing to say to the public can rarely write their way out of that proverbial paper bag.

" But Roth and this book are spectacular exceptions. While he was really trained as a mathematician (his PhD is in a discipline called operations research), Roth’s vision has never strayed far from the practical. And he’s a natural-born writer to boot.

"Roth designs “matching markets,” where price alone can’t balance supply and demand – think of markets for everything from marriage to college admissions. Indeed, he’s even saved lives by helping to design an ingenious way to match more donated kidneys to needy patients.

"The chapter excerpted here will give you a taste of his fine mind and formidable ability to make complicated ideas comprehensible. — Peter Passell"
See this earlier post with a video of the conversation about the book that Peter and I had in June: Peter Passell interviews me at the Milken Institute on Who Gets What — and Why: The New Economics of Matchmaking and Market Design

The rest of the book can be found at Amazon: http://www.amazon.com/Who-Gets-What-Why-Matchmaking/dp/0544291131 

No comments: