Sending the proper signals shows both your value and level of interest.
Today’s guest, Alvin E. Roth, has written a book about markets. If you are wondering what type of market – as Mr. Roth tells us himself – it’s not important what type of market. It’s the market itself. He guides us through the interview discussing chapters of his book, Who Gets What – and Why, with real life examples of the organ donation market and the online matchmaking market. He even shares his thoughts on how realtors have survived in our internet-based, do-it-yourself economy.
Key Takeaways:
[2:15] The rules of a marketplace constitute its design
[5:34] Alvin Roth analyzes the surprising U.S. real estate market
[9:48] Give realtors the 6% they deserve?
[13:33] Matching markets allow you to choose and be chosen
[15:59] The market of donating organs
[18:10] What rules should apply to repugnant transactions
[21:55] The government both interferes and supports all types of contracts
[25:35] Who Gets What – and Why can be used as a field guide to markets
[26:44] How to understand signals of interest
[27:58] The matchmaking market signal experiment
[30:52] Contact information for Alvin Roth
Mentions:
Tweetables:
“Alvin E. Roth’s new book Who Gets What – and Why can be used as a field guide to markets.”
“An example of market design would be understanding which rules should apply to repugnant markets.”
“Realtors continue to survive even though most real estate research and sales are internet driven.”