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Stratification and Growth in Agent-based Matching Markets

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Author Info
James W. Boudreau (University of Connecticut, University of Connecticut)

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Abstract

This paper examines the dynamic impact of matching on economic mobility and growth. To account for complex interactions over time, experimental economies of heterogeneous agents are simulated with the match process acting as a fitness selection mechanism. Even with perfect information and substantial variety in both offspring and entrants, two-sided matching inevitably causes the population to evolve into stratified groups. Corrective measures are possible to improve mobility, but by altering the path of market evolution, a policy may have unintended negative impacts on growth and inequality.

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File URL: http://www.econ.uconn.edu/working/2008-30.pdf
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Publisher Info
Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 2008-30.

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Length: 25 pages
Date of creation: May 2008
Date of revision:
Handle: RePEc:uct:uconnp:2008-30

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Related research
Keywords: Matching; stratification; path dependence.;

Other versions of this item:

Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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References listed on IDEAS
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  4. Peter T. Gottschalk & Enrico Spolaore, 2000. "On the Evaluation of Economic Mobility," JCPR Working Papers 185, Northwestern University/University of Chicago Joint Center for Poverty Research.
    Other versions:
  5. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541 Elsevier. [Downloadable!] (restricted)
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  12. Haruvy, Ernan & Roth, Alvin E. & Unver, M. Utku, 2006. "The dynamics of law clerk matching: An experimental and computational investigation of proposals for reform of the market," Journal of Economic Dynamics and Control, Elsevier, vol. 30(3), pages 457-486, March. [Downloadable!] (restricted)
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  13. Fernandez, Raquel, 2002. "Education, segregation and marital sorting: theory and an application to the UK," European Economic Review, Elsevier, vol. 46(6), pages 993-1022, June. [Downloadable!] (restricted)
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  15. Dan Anderberg & Fredrik Andersson, 2007. "Stratification, Social Networks in the Labour Market, and Intergenerational Mobility," Economic Journal, Royal Economic Society, vol. 117(520), pages 782-812, 04. [Downloadable!] (restricted)
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  16. Yan Chen & Tayfun Sönmez, 2004. "School Choice: An Experimental Study," Boston College Working Papers in Economics 622, Boston College Department of Economics. [Downloadable!]
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  17. Borgers, Tilman, 1996. "On the Relevance of Learning and Evolution to Economic Theory," Economic Journal, Royal Economic Society, vol. 106(438), pages 1374-85, September. [Downloadable!] (restricted)
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This page was last updated on 2009-10-28.

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