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Preferential Partner Selection in Evolutionary Labor Markets: A Study in Agent-Based Computational Economics

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  • Tesfatsion, Leigh

Abstract

This paper reports on computational experiments for an agent-based computational economics (ACE) model of a labor market with choice and refusal of contractual partners and endogenously evolving work-site behaviors. Three types of labor market structures are examined: two-sided markets comprising workers and employers; partially fluid markets comprising pure workers, pure employers, and agents capable of functioning both as workers and employers; and endogenous-type markets in which each agent is capable of functioning as both a worker and an employer. Particular attention is focused on experimentally determined correlations between market structure and the formation and evolution of contractual networks, and between contractual network formation and the types of work-site interactions and social welfare outcomes that these contractual networks support. Related work can be accessed at: http://www.econ.iastate.edu/tesfatsi/tnghome.htm

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File URL: http://www.econ.iastate.edu/tesfatsi/tnghome.htm
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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 2048.

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Date of creation: 01 Jan 1998
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Handle: RePEc:isu:genres:2048

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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Related research

Keywords: Labor market; evolutionary game; network formation; Agent-based test bed; partner choice; work-site behavior;

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References

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  1. Tesfatsion, Leigh, 1997. "A Trade Network Game with Endogenous Partner Selection," Staff General Research Papers 1680, Iowa State University, Department of Economics.
  2. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-94, October.
  3. Leigh TESFATSION, 1995. "How Economists Can Get Alife," Economic Report 37, Iowa State University Department of Economics.
  4. Stephen Nickell, 1997. "Unemployment and Labor Market Rigidities: Europe versus North America," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 55-74, Summer.
  5. David Banks & Kathleen Carley, 1994. "Metric inference for social networks," Journal of Classification, Springer, vol. 11(1), pages 121-149, March.
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Citations

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Cited by:
  1. Neugart, Michael, 2008. "Labor market policy evaluation with ACE," Journal of Economic Behavior & Organization, Elsevier, vol. 67(2), pages 418-430, August.
  2. Leigh Tesfatsion, 2000. "Hysteresis in an Evolutionary Labor Market with Adaptive Search," Computational Economics 0004003, EconWPA.
  3. Leigh Tesfatsion & Mark Pingle, 2003. "Evolution of Worker-Employer Networks and Behaviors Under Alternative Non-Employment Benefits: An Agent-Based Computational Study," Computing in Economics and Finance 2003 7, Society for Computational Economics.
  4. Matteo Richiardi, 2003. "On the Use of Agent-Based Simulations," LABORatorio R. Revelli Working Papers Series 32, LABORatorio R. Revelli, Centre for Employment Studies.
  5. Tesfatsion, Leigh S., 1998. "Teaching Agent-Based Computational Economics to Graduate Students," Staff General Research Papers 1199, Iowa State University, Department of Economics.
  6. Tesfatsion, Leigh S., 2009. "Structure, Behavior, and Market Power in an Evolutionary Labor Market with Adaptive Search," Staff General Research Papers 1681, Iowa State University, Department of Economics.
  7. Neugart, Michael, 2006. "Labor market policy evaluation with an agent-based model," Discussion Papers, Research Unit: Labor Market Policy and Employment SP I 2006-113, Social Science Research Center Berlin (WZB).
  8. Leigh Tesfatsion, 2002. "Agent-Based Computational Economics," Computational Economics 0203001, EconWPA, revised 15 Aug 2002.
  9. Pingle, Mark & Tesfatsion, Leigh, 2003. "Evolution of Worker-Employer Networks and Behaviors Under Alternative Non-Employment Benefits: An Agent-Based Computational Approach," Staff General Research Papers 10376, Iowa State University, Department of Economics.
  10. Yang, J.-H. Steffi, 2009. "Social network influence and market instability," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 257-276, March.
  11. Leigh Tesfatsion, 1999. "Market Power Effects on Worker-Employer Network Formation in Evolutionary Labor Markets with Adaptive Search," Computing in Economics and Finance 1999 543, Society for Computational Economics.
  12. Leigh Tesfatsion, 1998. "Ex Ante Capacity Effects in Evolutionary Labor Markets with Adaptive Search," Labor and Demography 9811003, EconWPA.

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