Modeling and analysis of agent-based labor market

Jae Min Yu; Sung Bae Cho

doi:10.1007/978-3-319-19719-7_19

Modeling and analysis of agent-based labor market

Jae Min Yu, Sung Bae Cho

College of Computing

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

This paper presents an agent-based model of labor market to investigate the relationship between company and worker. Unlike most of previous studies of labor market we apply a game theoretic approach to defining entities in labor market: companies and workers. A company can choose the level of wages, and workers can select the level of effort to increase the productivity in response to the wages. Company and worker agents are designed to possess the basic attributes in order to reflect the real labor market and their activities are adaptively changed using evolutionary model. Our approach is illustrated with four simulation results: the effect of workers resignation, sick leave, dismissal of companies and productivity growth. Various experiments were conducted, and the interactions between worker and company are analyzed. Especially performance-based reward strategy and non-greedy strategy in job changing are necessary for companies and workers according to the simulation results. The experimental result confirms that the balanced power between worker and company is important in maintenance and extension of labor market. Nash Equilibrium can be maintained in all cases.

Original language	English
Title of host publication	10th International Conference on Soft Computing Models in Industrial and Environmental Applications
Editors	Alvaro Herrero, Bruno Baruque, Javier Sedano, Hector Quintian, Emilio Corchado
Publisher	Springer Verlag
Pages	215-226
Number of pages	12
ISBN (Print)	9783319197180
DOIs	https://doi.org/10.1007/978-3-319-19719-7_19
Publication status	Published - 2015
Event	10th International Conference on Soft Computing Models in Industrial and Environmental Applications, SOCO 2015 - Burgos, Spain Duration: 2015 Jun 15 → 2015 Jun 17

Publication series

Name	Advances in Intelligent Systems and Computing
Volume	368
ISSN (Print)	2194-5357

Other

Other	10th International Conference on Soft Computing Models in Industrial and Environmental Applications, SOCO 2015
Country/Territory	Spain
City	Burgos
Period	15/6/15 → 15/6/17

Bibliographical note

Publisher Copyright:
© Springer International Publishing Switzerland 2015.

All Science Journal Classification (ASJC) codes

Control and Systems Engineering
Computer Science(all)

Access to Document

10.1007/978-3-319-19719-7_19

Cite this

Yu, J. M., & Cho, S. B. (2015). Modeling and analysis of agent-based labor market. In A. Herrero, B. Baruque, J. Sedano, H. Quintian, & E. Corchado (Eds.), 10th International Conference on Soft Computing Models in Industrial and Environmental Applications (pp. 215-226). (Advances in Intelligent Systems and Computing; Vol. 368). Springer Verlag. https://doi.org/10.1007/978-3-319-19719-7_19

@inproceedings{fec02286acc24d488e482941e14e2513,

title = "Modeling and analysis of agent-based labor market",

abstract = "This paper presents an agent-based model of labor market to investigate the relationship between company and worker. Unlike most of previous studies of labor market we apply a game theoretic approach to defining entities in labor market: companies and workers. A company can choose the level of wages, and workers can select the level of effort to increase the productivity in response to the wages. Company and worker agents are designed to possess the basic attributes in order to reflect the real labor market and their activities are adaptively changed using evolutionary model. Our approach is illustrated with four simulation results: the effect of workers resignation, sick leave, dismissal of companies and productivity growth. Various experiments were conducted, and the interactions between worker and company are analyzed. Especially performance-based reward strategy and non-greedy strategy in job changing are necessary for companies and workers according to the simulation results. The experimental result confirms that the balanced power between worker and company is important in maintenance and extension of labor market. Nash Equilibrium can be maintained in all cases.",

author = "Yu, {Jae Min} and Cho, {Sung Bae}",

note = "Publisher Copyright: {\textcopyright} Springer International Publishing Switzerland 2015.; 10th International Conference on Soft Computing Models in Industrial and Environmental Applications, SOCO 2015 ; Conference date: 15-06-2015 Through 17-06-2015",

year = "2015",

doi = "10.1007/978-3-319-19719-7_19",

language = "English",

isbn = "9783319197180",

series = "Advances in Intelligent Systems and Computing",

publisher = "Springer Verlag",

pages = "215--226",

editor = "Alvaro Herrero and Bruno Baruque and Javier Sedano and Hector Quintian and Emilio Corchado",

booktitle = "10th International Conference on Soft Computing Models in Industrial and Environmental Applications",

address = "Germany",

}

Yu, JM & Cho, SB 2015, Modeling and analysis of agent-based labor market. in A Herrero, B Baruque, J Sedano, H Quintian & E Corchado (eds), 10th International Conference on Soft Computing Models in Industrial and Environmental Applications. Advances in Intelligent Systems and Computing, vol. 368, Springer Verlag, pp. 215-226, 10th International Conference on Soft Computing Models in Industrial and Environmental Applications, SOCO 2015, Burgos, Spain, 15/6/15. https://doi.org/10.1007/978-3-319-19719-7_19

Modeling and analysis of agent-based labor market. / Yu, Jae Min; Cho, Sung Bae.

10th International Conference on Soft Computing Models in Industrial and Environmental Applications. ed. / Alvaro Herrero; Bruno Baruque; Javier Sedano; Hector Quintian; Emilio Corchado. Springer Verlag, 2015. p. 215-226 (Advances in Intelligent Systems and Computing; Vol. 368).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

TY - GEN

T1 - Modeling and analysis of agent-based labor market

AU - Yu, Jae Min

AU - Cho, Sung Bae

N1 - Publisher Copyright: © Springer International Publishing Switzerland 2015.

PY - 2015

Y1 - 2015

N2 - This paper presents an agent-based model of labor market to investigate the relationship between company and worker. Unlike most of previous studies of labor market we apply a game theoretic approach to defining entities in labor market: companies and workers. A company can choose the level of wages, and workers can select the level of effort to increase the productivity in response to the wages. Company and worker agents are designed to possess the basic attributes in order to reflect the real labor market and their activities are adaptively changed using evolutionary model. Our approach is illustrated with four simulation results: the effect of workers resignation, sick leave, dismissal of companies and productivity growth. Various experiments were conducted, and the interactions between worker and company are analyzed. Especially performance-based reward strategy and non-greedy strategy in job changing are necessary for companies and workers according to the simulation results. The experimental result confirms that the balanced power between worker and company is important in maintenance and extension of labor market. Nash Equilibrium can be maintained in all cases.

AB - This paper presents an agent-based model of labor market to investigate the relationship between company and worker. Unlike most of previous studies of labor market we apply a game theoretic approach to defining entities in labor market: companies and workers. A company can choose the level of wages, and workers can select the level of effort to increase the productivity in response to the wages. Company and worker agents are designed to possess the basic attributes in order to reflect the real labor market and their activities are adaptively changed using evolutionary model. Our approach is illustrated with four simulation results: the effect of workers resignation, sick leave, dismissal of companies and productivity growth. Various experiments were conducted, and the interactions between worker and company are analyzed. Especially performance-based reward strategy and non-greedy strategy in job changing are necessary for companies and workers according to the simulation results. The experimental result confirms that the balanced power between worker and company is important in maintenance and extension of labor market. Nash Equilibrium can be maintained in all cases.

UR - http://www.scopus.com/inward/record.url?scp=84946417276&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84946417276&partnerID=8YFLogxK

U2 - 10.1007/978-3-319-19719-7_19

DO - 10.1007/978-3-319-19719-7_19

M3 - Conference contribution

AN - SCOPUS:84946417276

SN - 9783319197180

T3 - Advances in Intelligent Systems and Computing

SP - 215

EP - 226

BT - 10th International Conference on Soft Computing Models in Industrial and Environmental Applications

A2 - Herrero, Alvaro

A2 - Baruque, Bruno

A2 - Sedano, Javier

A2 - Quintian, Hector

A2 - Corchado, Emilio

PB - Springer Verlag

T2 - 10th International Conference on Soft Computing Models in Industrial and Environmental Applications, SOCO 2015

Y2 - 15 June 2015 through 17 June 2015

ER -

Modeling and analysis of agent-based labor market

Abstract

Publication series

Other

Bibliographical note

All Science Journal Classification (ASJC) codes

Access to Document

Other files and links

Fingerprint

Cite this