Their work primarily applies to markets that do not have prices, or at least have strict constraints on prices. The laureates’ breakthroughs involve figuring out how to properly assign people and things to stable matches when prices are not available to help buyers and sellers pair up.
Mr. Roth, 60, has put these theories to practical use, in his work on a program that matches new doctors to hospitals and more recently for a project matching kidney donors.
I can't wait for the next math trade that allows human organs!
I heard a story about this on NPR on my way to work the other day. It sounds like the theory can serve a lot of important purposes but the first thing I thought of was "Hey, that's how math trades work!"
"For example, a man needs a kidney, and his wife is willing to donate one of hers but she is not a match. Across the country there is a couple in the same position, and it turns out that the wives are a match for the husbands in the opposite couple. In this simple case, the two couples essentially barter their kidneys: Wife A gives her kidney to Husband B, and Wife B gives her kidney to Husband A. It is rare that two couples will serendipitously match each other’s kidney donation needs this way, and there are often more pairs of donor-recipients involved. Mr. Roth’s system helps find the most efficient exchange of organs so that the most patients can be saved with the fewest number of pairs involved in a given trade."
Yup, that's a math trade. Now... how do we get an updated algorithm for BGG math trades?