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

Abstract

Existing agent-based labour-market models include a very simplistic mechanism of choosing vacancies. This paper proposes to use job satisfaction as a unified mechanism for deciding on both starting to work on a particular job and quitting the current job. An enhanced job satisfaction mechanism consisting of monetary, social, content, and career components is proposed. As an illustrative context, a labour-market model with referral hiring and informal job search through own social networks is presented.