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The Labour Market on the Hypercube

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  • Tanya Araújo
  • Gérard Weisbuch

Abstract

Positions offered on a labour market and workers preferences are here described by bit-strings representing individual traits. We study the co-evolution of workers and firm preferences modeled by such traits. Individual ”size-like” properties are controlled by binary encounters which outcome depends upon a recognition process. Depending upon the parameter set-up, mutual selection of workers and positions results in different types of attractors, either an exclusive niches regime or a competition regime.

Suggested Citation

  • Tanya Araújo & Gérard Weisbuch, 2007. "The Labour Market on the Hypercube," Working Papers Department of Economics 2007/24, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    • Handle: RePEc:ise:isegwp:wp242007
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    References listed on IDEAS

    as
    1. Christopher A. Pissarides, 2000. "Equilibrium Unemployment Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262161877, April.
    2. Challet, Damien & Zhang, Yi-Cheng, 1998. "On the minority game: Analytical and numerical studies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 256(3), pages 514-532.
    3. Rick L. Riolo & Michael D. Cohen & Robert Axelrod, 2001. "Evolution of cooperation without reciprocity," Nature, Nature, vol. 414(6862), pages 441-443, November.
    4. Tanya Araujo & R. Vilela Mendes, 2006. "Market-oriented innovation: When is it profitable? An abstract agent-based study," Working Papers Department of Economics 2006/31, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    5. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-444, June.
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