We study a labor market with finitely many heterogeneous workers and firms to illustrate the decentralized (myopic) blocking dynamics in two-sided one-to-one matching markets with continuous side payments (assignment problems, Shapley and Shubik, 1971). A labor market is unstable if there is at...

We study a labor market with finitely many heterogeneous workers and firms to illustrate the decentralized (myopic) blocking dynamics in two-sided one-to-one matching markets with continuous side payments (assignment problems, Shapley and Shubik, 1971). A labor market is unstable if there is at...

We analyze a decentralized trading process in a basic labor market where heterogeneous firms and workers meet directly and randomly, and negotiate salaries with each other over time. Firms and workers may not have a complete picture of the entire market and can thus behave myopically in the...

We analyze a decentralized trading process in a basic labor market where heterogeneous firms and workers meet directly and randomly, and negotiate salaries with each other over time. Firms and workers may not have a complete picture of the entire market and can thus behave myopically in the...

We study the dynamic behavior of vehicular traffic through the series of traffic lights controlled by phase shift in two-dimensional (2D) city traffic network. The nonlinear-map model is presented for the vehicular traffic. The city traffic network is made of one-way perpendicular streets...

We study the dynamic behavior of vehicular traffic through a series of traffic lights on selected paths in a two-dimensional (2d) traffic network. The city traffic network is made of one-way perpendicular streets arranged in a square lattice with traffic signals where vertical streets are...