![]() ROTH: Sometimes people are surprised that economists study things like this. Sororities don't get as much attention, even though their matching process works in largely the same way. WONG: So if you look at medical residency match, organ donation, high school admissions - these are all pretty high-stakes situations where Al's work on matching markets has played a big role. ROTH: It's the best you could get given what's available and what everyone else is getting. The system will match me with House Beta because it's the house highest on my list that also ranked me highly. Now, House Alpha puts a bunch of other students ahead of me on their list, but House Beta puts me at the top of their ranking. WONG: So let's say I'm doing sorority rush, and I like House Alpha the best. And a blocking pair is a pair of people not matched to each other who would both prefer to be matched to each other. ROTH: A match is stable if there aren't what we call blocking pairs. Al wanted to learn how the process worked and whether it produced what economists call stable matches. Sororities were especially intriguing because they had a centralized clearinghouse to make matches. MA: Al got the idea to look into sororities from his undergraduate students who were involved in the Greek system. WONG: The labor market is an example of a matching market so is online dating and the residency matching process for medical students and hospitals. But in lots of markets, we're not dealing with commodities. And so what the market is supposed to do is find the price at which supply will equal demand. ![]() ROTH: Commodity markets are markets where you don't care who you're dealing with 'cause commodities are all the same. MA: What matching markets are not are markets where prices are involved. And I normally start by saying what it's not. WONG: If you go to a cocktail party and someone says, Professor Roth, what do you do for a living? - and you say, well, I pioneered research in the field of matching markets, and someone says, well, what's that? - what do you say?ĪL ROTH: Well, that's happened to me more than once. Al Roth is an economics professor at Stanford. And matching markets are hugely important to the economy. MA: And that's where we come in because it turns out sorority rush illustrates a concept called matching markets. But you know what didn't get talked about is economics. And they inspired discussion about social hierarchies and elitism and the role of the Greek system in college life. WONG: The TikTok posts gave a glimpse into this particular aspect of campus culture. UNIDENTIFIED GROUP: P-I, P-I, Phi, Phi, Phi, P for Phi for Beta Phi. To the songs and rituals that take place during the week. UNIDENTIFIED PERSON: My shoes are from T.J. ![]() They were posting behind-the-scenes videos and everything from their daily outfits. And I'm so excited 'cause we get to wear our cute little dresses.ĪDRIAN MA, BYLINE: #RushTok started with sorority women at the University of Alabama. So today is the first round of sisterhood. And it's this jam-packed week of parties and other events. WAILIN WONG, BYLINE: You may have heard of sorority rush because it's made a splash on TikTok for the last two years. Wailin Wong and Adrian Ma from our daily economics podcast The Indicator explain. And it also illustrates an important economic concept - matching markets. That's the time of year when sororities recruit new members. PROHIBIDO re empaquetar, redistribuir en cualquier forma, total o parcialmente, o reclamar como tuyo CUALQUIERA de mis recursos, en cualquier forma, aplicación y derivados.By now, sorority rush has wrapped up on college campuses across the country. * QUEDAN PROHIBIDAS: Cualquier redistribución y derivados de mis recursos, compilaciones en bases de datos, y redistribución en línea. *Commercial use *Your design used my work is your own design, do watever you want, sell, share, print out of Deviantart or not its your choice, but as long as it will not be a resource or derivative resources of mine,that's it, no more. #In water splash png downloadAnd by the way, if i see to much download vs fav, i suppose that you are not serious. (simply, do not redistribute or share my resources ONLINE-> mean the whole internet ) (This rules will not affect your own design using my work as design work and not as a resources or derivative of mine) **Derivative redistribution ,DATA BASE COLLECTION and ONLINE REDISTRIBUTION are PROHIBITED.You may NOT repackage and,or redistribute or claim as your own, my resources with or without credit this is PROHIBITED that's all. English,spanish or whatever your language, traductor websites are free. So the rules is simple and i 'm sure you are able to read if you are able to sign in with DA or OUT whatever. By downloading my resources you need to be agree with my term and conditions rules. ![]()
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