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Job satisfaction as a unified mechanism for agent behaviour in a labour market with referral hiring

Job satisfaction as a unified mechanism for agent behaviour in a labour market with referral hiring This paper proposes to use job satisfaction (JS) as a unified mechanism for guiding agents' behaviour in the labour market. In the labour-market model presented here, JS affects agents' decisions on which vacancies to apply for, which of them to select in case of receiving several acknowledgements from firms and whether to quit the current job. The performance of the model depending on the structure of JS is studied. The model where JS depends on monetary (relative wages), social (relative number of friends), content and career components is compared with models where JS has only the first or the first two of these. It creates a more realistic firm size distribution and er duration of unemployment and on-the-job search. Average JS increases but median wages decrease with firm size for both manual and non-manual jobs. All models generate the Beveridge curve and log-normal distribution of wages. Keywords: agent-based modelling; job satisfaction; labour market; social networks. Reference to this paper should be made as follows: Tarvid, A. (2016) `Job satisfaction as a unified mechanism for agent behaviour in a labour market with referral hiring', Int. J. Computational Economics and Econometrics, Vol. 6, No. 3, pp.213­238. Biographical notes: Alexander Tarvid http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Computational Economics and Econometrics Inderscience Publishers

Job satisfaction as a unified mechanism for agent behaviour in a labour market with referral hiring

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Publisher
Inderscience Publishers
Copyright
Copyright © 2016 Inderscience Enterprises Ltd.
ISSN
1757-1170
eISSN
1757-1189
DOI
10.1504/IJCEE.2016.077241
Publisher site
See Article on Publisher Site

Abstract

This paper proposes to use job satisfaction (JS) as a unified mechanism for guiding agents' behaviour in the labour market. In the labour-market model presented here, JS affects agents' decisions on which vacancies to apply for, which of them to select in case of receiving several acknowledgements from firms and whether to quit the current job. The performance of the model depending on the structure of JS is studied. The model where JS depends on monetary (relative wages), social (relative number of friends), content and career components is compared with models where JS has only the first or the first two of these. It creates a more realistic firm size distribution and er duration of unemployment and on-the-job search. Average JS increases but median wages decrease with firm size for both manual and non-manual jobs. All models generate the Beveridge curve and log-normal distribution of wages. Keywords: agent-based modelling; job satisfaction; labour market; social networks. Reference to this paper should be made as follows: Tarvid, A. (2016) `Job satisfaction as a unified mechanism for agent behaviour in a labour market with referral hiring', Int. J. Computational Economics and Econometrics, Vol. 6, No. 3, pp.213­238. Biographical notes: Alexander Tarvid

Journal

International Journal of Computational Economics and EconometricsInderscience Publishers

Published: Jan 1, 2016

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