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Mark Pingle () and Leigh Tesfatsion ()

Chapter 8 in Industry and Labor Dynamics:The Agent-Based Computational Economics Approach, 2004, pp 129-163 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis study experimentally tests the effects of a non-employment payment on work-site behaviors and market efficiency in the context of an agent-based computational labor market model with autonomous strategically-interacting workers and employers. On average, we find that a low but positive non-employment payment is most efficient, especially over the short and intermediate run. A high non-employment payment encourages those who enter employment relationships to be cooperative, but the cost of the non-employment payment program significantly reduces efficiency. Having no non-employment payment encourages the formation of employment relationships, but non-cooperation is common and this reduces efficiency. These “average” results should be viewed with caution, however. Because of strong network and learning effects, quite different paths and ultimate outcomes can result from the same initial structural conditions.

Keywords: Simulation; Agent-Based; Computational Economics; Labor; Industrial Dynamics; Innovation; Cluster; Firm Behavior (search for similar items in EconPapers)
JEL-codes: B21 B22 G34 D23 O47 (search for similar items in EconPapers)
Date: 2004
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Working Paper: Evolution of Worker-Employer Networks and Behaviors Under Alternative Non-Employment Benefits: An Agent-Based Computational Study (2003) Downloads
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