Search results for "Reservation wage"

Using Agent-Based Modelling in Studying Labour–Education Market System

2015

We’re now ready for a discussion on how exactly one could build an agent-based model of labour–education market system (LEMS). This discussion will necessarily be quite abstract, because particular mechanisms built into the model (agents, their behaviour, interactions, other structures) depend heavily on the purpose of the model. I’ll focus on general approaches and mechanisms that you may find useful when building agent-based models of LEMS.