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The group behaviour modelling of workers in the labor market.

Authors :
Shananin, Alexander
Trusov, Nikolai
Source :
Russian Journal of Numerical Analysis & Mathematical Modelling. Aug2023, Vol. 38 Issue 4, p219-229. 11p.
Publication Year :
2023

Abstract

We describe the mathematical modelling of the group behaviour of workers in the labor market. The worker receives the salary and seeks to improve his qualifications in order to receive higher wages. The worker enlarges his qualification by the investments in human capital. At a random moment of time, a vacancy appears that provides a jump in the worker's salary. The mathematical model of the worker's behaviour in the labor market is presented as an optimal control problem on an infinite time horizon. The paper presents the derivation of the Kolmogorov–Fokker–Planck equation for the Lévy process, which describes the behaviour of a large amount of workers within a social layer. The numerical solution of the Kolmogorov–Fokker–Planck equation and the calculation results are presented. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
09276467
Volume :
38
Issue :
4
Database :
Academic Search Index
Journal :
Russian Journal of Numerical Analysis & Mathematical Modelling
Publication Type :
Academic Journal
Accession number :
169826345
Full Text :
https://doi.org/10.1515/rnam-2023-0017