The Korean Economic Review
Brave New World of Market Design
Yeon-Koo Che (Columbia University) and Erin Cho (The New School for Design)Year 2011Vol. 27No. 1
Market Design is an emerging field that seeks to provide a practical solution for variousresource allocation problems. The current article discusses several issues arising in real-worldmarket design, innovative ideas proposed to overcome those issues, and their applications inareas such as spectrum licenses allocation, Internet sponsored-search advertising, housingallocation, public school placement, kidney exchange, course allocation, and onlinematchmaking.