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 behavior. 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 as employers; and endogenous type markets in which each agent is capable of functioning as both a worker and an employer. Particular attention is focused 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://www2.econ.iastate.edu/tesfatsi/tnghome.htm
|Date of creation:||18 Mar 1998|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
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- Tesfatsion, Leigh, 1997.
"A Trade Network Game with Endogenous Partner Selection,"
Staff General Research Papers Archive
1680, Iowa State University, Department of Economics.
- Leigh TESFATSION, 1995. "A Trade Network Game With Endogenous Partner Selection," Economic Report 36, Iowa State University Department of Economics.
- Roth, Alvin E. & Sotomayor, Marilda, 1992.
Handbook of Game Theory with Economic Applications,
in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541
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- Diamond, Peter A, 1982.
"Aggregate Demand Management in Search Equilibrium,"
Journal of Political Economy,
University of Chicago Press, vol. 90(5), pages 881-894, October.
- Leigh TESFATSION, 1995.
"How Economists Can Get Alife,"
37, 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.
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