Steinbacher, Matej and Steinbacher, Matjaz and Steinbacher, Mitja (2009): Homogenous Agent Wage-Posting Model with Wage Dispersion.
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In the paper we test a homogenous agent version of the Montgomery's (1991) non-cooperative wage posting model. The inclusion of intrinsic costs, related to the uncertainty when changing the alternative agents are already using, alters the outcome of the model in two respects: firstly, it significantly prolongs the convergence-time to the equilibrium, and, more importantly, it may lead to the wage dispersion, irrespective of equally-productive-agent proposition, something not present in the model of Montgomery.
|Item Type:||MPRA Paper|
|Original Title:||Homogenous Agent Wage-Posting Model with Wage Dispersion|
|Keywords:||Job-search model, wage posting, wage dispersion, numerical optimization|
|Subjects:||J - Labor and Demographic Economics > J3 - Wages, Compensation, and Labor Costs > J31 - Wage Level and Structure; Wage Differentials
D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D83 - Search; Learning; Information and Knowledge; Communication; Belief
C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C15 - Statistical Simulation Methods: General
C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
|Depositing User:||Matjaz Steinbacher|
|Date Deposited:||08. Jul 2009 02:39|
|Last Modified:||15. Feb 2013 23:06|
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