of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions …

. Under perfect competition, sellers' asking prices converged onto the theoretical equilibrium price. This performance was …, can find their way to supply/demand equilibrium. A multi-agent model was used to simulate the evolution of autonomously …- learnt rule-governed behaviour, (i), under perfect competition, and (ii), in a more commercially realistic environment …

This paper analyzes the effect of immigration on gender gaps in the labor market. Using an equilibrium structural model … for the U.S. economy, I simulate the importance of two mechanisms: the differential labor market competition induced by … competition, even though these effects are compensated from the cheaper-childcare effect. This generates heterogeneity in the …

We argue that the complex interactions of competitive heterogeneous firms lead to a statistical equilibrium … phenomenologically inspired interpretation of variations in the shape parameter of the statistical equilibrium distribution. Our main … finding is that firms' idiosyncratic efforts and the tendency for competition to equalize profit rates are two sides of the …