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Tesfatsion, Leigh; Stewart, Deron; McFadzean, David. |
This study presents, motivates, and illustrates the use of a computational laboratory for the investigation of evolutionary trade network formation among strategically interacting buyers, sellers, and dealers. The computational laboratory, referred to as the Trade Network Game Laboratory (TNG Lab), is targetted for the Microsoft Windows desktop. The TNG Lab is both modular and extensible and has a clear, easily operated graphical use interface. It permits visualization of the formation and evolution of trade networks by means of real-time animations. Data tables and charts reporting descriptive performance statistics are also provided in real time. The capabilities of the TNG Lab are demonstrated by means of labor market experiments. |
Tipo: Working or Discussion Paper |
Palavras-chave: Computational laboratory; Buyer-seller trade networks; Evolutionary game; Network animation; Agent-based computational economics; C++ class framework; Labor market experiments; International Relations/Trade. |
Ano: 2000 |
URL: http://purl.umn.edu/18199 |
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Tesfatsion, Leigh. |
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... |
Tipo: Working or Discussion Paper |
Palavras-chave: Labor markets; Network hysteresis; Behavioral hysteresis; Capacity asymmetries; Agent-based computational economics; Labor and Human Capital. |
Ano: 1999 |
URL: http://purl.umn.edu/18189 |
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