Preferential Partner Selection in Evolutionary Labor Markets: A Study in Agent-Based Computational Economics
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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- Tesfatsion, Leigh, 1997.
"How Economists Can Get Alife,"
Staff General Research Papers
1685, Iowa State University, Department of Economics.
- 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.
- P. Diamond, 1980.
"Aggregate Demand Management in Search Equilibrium,"
268, Massachusetts Institute of Technology (MIT), Department of Economics.
- Leigh TESFATSION, 1995.
"A Trade Network Game With Endogenous Partner Selection,"
36, Iowa State University Department of Economics.
- Tesfatsion, Leigh, 1997. "A Trade Network Game with Endogenous Partner Selection," Staff General Research Papers 1680, Iowa State University, Department of Economics.
- 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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