Consider a market with 4 doctors a,b,c,d and 3 hospitals 1,2,3. Eachhospital needs to hire (at most) one doctor. The preference orders ofeach side of the market on the other side are given bya: 1 >2>3>4b: 2>1>3>4c: 2 >3>1>4d: 1 >2 >3 >41: d>b>c>a2: c>a>b>d3: c>b>d>a1) List all of the stable assignments of doctors to hospitals in thismarket.2) Prove that no other stable assignment exists.

Approach to solving the question:We can solve this problem using the Gale-Shapley algorithm, a…

Answered: Consider a market with 4 doctors…

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 4PA

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