| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
HYSTERESIS IN AN EVOLUTIONARY LABOR MARKET WITH ADAPTIVE SEARCH
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| Autores: |
Tesfatsion, Leigh
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| Data: |
1999-10-29
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| Ano: |
1999
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| Palavras-chave: |
Labor markets
Network hysteresis
Behavioral hysteresis
Capacity asymmetries
Agent-based computational economics
Labor and Human Capital
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| Resumo: |
This study undertakes a systematic experimental investigation of hysteresis (path dependency) in an agent-based computational labor market framework. It is shown that capacity asymmetries between work suppliers and employers can result in two distinct hysteresis effects, network and behavioral, when work suppliers and employers interact strategically and evolve their worksite behaviors over time. These hysteresis effects result in persistent heterogeneity in earnings and employment histories across agents who have no observable structural differences. At a more global level, these hysteresis effects are shown to result in a one-to-many mapping between treatment factors and experimental outcomes. These hysteresis effects may help to explain why excess earnings heterogeneity is commonly observed in real-world labor markets.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
1764
http://purl.umn.edu/18189
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| Editor: |
AgEcon Search
|
| Relação: |
Iowa State University>Department of Economics>Economic Reports
Economic Report 50
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| Formato: |
50
application/pdf
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