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The authors study a population of agents, each of whom can be an altruist or an egoist. Altruism is a strictly dominated strategy. Agents choose their actions by imitating others who earn high payoffs. Interactions between agents are local, so that each agent affects, and is affected by, only...
Persistent link: https://www.econbiz.de/10005573685
We consider a market with "red" and "green" workers, where labels are payoff irrelevant. Workers may acquire skills. Skilled workers search for vacancies, while firms search for workers. A unique symmetric equilibrium exists in which color is irrelevant. There are also asymmetric equilibria in...
Persistent link: https://www.econbiz.de/10005571178
Persistent link: https://www.econbiz.de/10005758578