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Description

Agent based models allow for complex results from simple parameters. The mobile agents in my model, the firms, are allocated an amount of capital, while the static agents, the workers,

Agent based models allow for complex results from simple parameters. The mobile agents in my model, the firms, are allocated an amount of capital, while the static agents, the workers, are allocated a range of wages. The firms are then allowed to move around and compete until they match with a worker that maximizes their production. It was found from the simulation that as competition increases so do wages. It was also found that when firms stay in the environment for longer that a higher wage is possible as a result of a larger window for drawn out competition.

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Date Created
  • 2015-12
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  • Text
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