Strategic factor markets: expectations, luck, and business strategy
Management Science
Asset stocks and sustained competitive advantage: a comment
Management Science
Growing artificial societies: social science from the bottom up
Growing artificial societies: social science from the bottom up
Market, Hierarchy, and Trust: The Knowledge Economy and the Future of Capitalism
Organization Science
Evolving specialisation, altruism, and group-level optimisation using tags
MABS'02 Proceedings of the 3rd international conference on Multi-agent-based simulation II
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The article explores emergence and survival of human resource management strategies and organisational types in a knowledge-based job market. The analysis considers a dynamic environment in which skill requirements change rapidly. We built an agent-based model to simulate a market where firms post job offers to fill vacancies and decide how to select and reward employees; employees, bearing skills, select firms comparing job offers. Taking an evolutionary approach, we explore how hiring strategies, which guarantee survival, emerge from interconnected variation, selection and retention processes. The simulation experiments suggest that, as the rate of change of the environment increases, long-term employment and firm-specific knowledge building emerge as the survival strategy.