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Backward Unraveling over Time: The Evolution of Strategic Behavior in the Entry-Level British Medical Labor Markets

Paper:ewp-game/9907001
From:    
Date: Sun, 4 Jul 1999 16:11:09 -0500 (CDT)
Date (revised): Fri, 16 Jul 1999 23:05:25 -0500 (CDT)
Date (revised): Fri, 2 Nov 2001 18:34:50 -0600
Date (revised): Thu, 14 Feb 2002 03:27:17 -0600
Date (revised): Mon, 9 Feb 2004 06:32:33 -0600

Title: Backward Unraveling over Time: The Evolution of Strategic Behavior in the Entry-Level British Medical Labor Markets
Author: M. Utku Unver
Contact:
Comments: This study won one of the two Graduate Student Prizes awarded by the Society for Computational Economics in 1999. This is a revised draft dated June, 2000.
Keywords: Genetic algorithms, linear programming matching, stability, two-sided matching, unraveling
JEL: C15 C78 D83
EWPA-references:
Report-no: MUU-1999-001

Abstract:

This paper studies an adaptive artificial agent model using a genetic algorithm to analyze how a population of decision-makers learns to coordinate on the selection of an equilibrium or a social convention in a two-sided matching game. In the contexts of centralized and decentralized entry-level labor markets, evolution and adjustment paths of unraveling are explored using this model in an environment inspired by the Kagel and Roth (Quarterly Journal of Economics, 2000) experimental study. As an interesting result, it is demonstrated that stability need not be required for the success of a matching mechanism under incomplete information in the long run.

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