Campus Units

Economics

Document Type

Conference Proceeding

Conference

Proceedings of the 2000 Congress on Evolutionary Computation

Publication Version

Accepted Manuscript

Link to Published Version

http://dx.doi.org/10.1109/CEC.2000.870760

Publication Date

2000

Journal or Book Title

Proceedings of the 2000 Congress on Evolutionary Computation

Volume

2

DOI

10.1109/CEC.2000.870760

Conference Title

Proceedings of the 2000 Congress on Evolutionary Computation

Conference Date

July 16-19, 2000

Abstract

This paper reports on an experimental study of the relationship between job capacity, job concentration, and market power in the context of an agent-based computational model of a labor market. Job capacity is measured by the ratio of potential job openings to potential work offers, and job concentration is measured by the ratio of work suppliers to employers. For each experimental treatment, work suppliers and employers repeatedly seek preferred work-site partners based on continually updated expected utility, engage in work-site interactions modelled as prisoner's dilemma games, and evolve their work-site behaviors over time. The main finding is that job capacity consistently trumps job concentration when it comes to predicting the relative ability of work suppliers and employers to exercise market power.

Comments

© 2000 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. DOI: 10.1109/CEC.2000.870760

Copyright Owner

IEEE

Language

en

File Format

application/pdf

Published Version

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