AN EVOLUTIONARY GAME FOR SUSTAINABLE WORKER’S WAGES

Avinash Kumar Singh, Kampan Mukherjee

Abstract


In this paper, an evolutionary game was developed between the companies and the workers to understand the dynamics of interaction between them. The evolutionary game was simulated using system dynamics to visualize the evolution of strategies. This model was applied on a case study to predict the effect of wage revision. Thereafter, based on these suggestions, the workers’ wages were increased and effect of the increase was in line with predictions of the model. This model can be useful to the companies in deciding the worker’s wages so as to reduce attrition and increase worker’s effort at job.

Keywords: Social Sustainability, Evolutionary Game Theory (EGT), System Dynamics (SD), Fair Wage.


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References


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