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Presentation
Concentration, capacity and market power in an evolutionary labor market
Proceedings of the 2000 Congress on Evolutionary Computation
  • Leigh Tesfatsion, Iowa State University
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
1-1-2000
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
Citation Information
Leigh Tesfatsion. "Concentration, capacity and market power in an evolutionary labor market" Proceedings of the 2000 Congress on Evolutionary Computation Vol. 2 (2000)
Available at: http://works.bepress.com/leigh-tesfatsion/53/