English, Article, Journal or magazine article edition: Homogenous Agent Wage-Posting Model with Wage Dispersion Steinbacher, Matej; Steinbacher, Matjaz; Steinbacher, Mitja

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Homogenous Agent Wage-Posting Model with Wage Dispersion
Author
  • Steinbacher, Matej
  • Steinbacher, Matjaz
  • Steinbacher, Mitja
Physical Description
  • preprint
Notes
  • 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.
  • Job-search model; wage posting; wage dispersion; numerical optimization
  • RePEc:pra:mprapa:16114
Language
  • English
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