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A matching function is a mathematical relationship that describes the formation of new relationships (also called 'matches') from unmatched agents of the appropriate types. For example, in the context of job formation, matching functions are sometimes assumed to have the following ' Cobb–Douglas ' form:
A behavior of the insider-outsider model is illustrated at right, where Nd represents the optimal level of employment of labor firms and Ns represents the quantity of labor time workers desire to supply at a given wage rate. Insiders leverage their position of power to negotiate a wage that is much higher than the market-clearing wage rate.
In economics, stable matching theory or simply matching theory, is the study of matching markets. Matching markets are distinguished from Walrasian markets in the focus of who matches with whom. Matching theory typically examines matching in the absence of search frictions, differentiating it from search and matching theory .
A stable matching always exists, and the algorithmic problem solved by the Gale–Shapley algorithm is to find one. [3] The stable matching problem has also been called the stable marriage problem, using a metaphor of marriage between men and women, and many sources describe the Gale–Shapley algorithm in terms of marriage proposals. However ...
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.
The planning processes of most best practice organizations not only define what will be accomplished within a given time-frame, but also the numbers and types of human resources that will be needed to achieve the defined business goals (e.g., number of human resources; the required competencies; when the resources will be needed; etc.).
The O-ring theory of economic development is a model of economic development put forward by Michael Kremer in 1993, [1] which proposes that tasks of production must be executed proficiently together in order for any of them to be of high value. The key feature of this model is positive assortative matching, whereby people with similar skill ...
Dave Ulrich has been ranked the #1 Management Educator & Guru by BusinessWeek, [5] selected by Fast Company as one of the 10 most innovative and creative leaders, [6] is one of 21 people in the Thinker's Fifty Hall of Fame, and named the most influential thinker in HR of the decade by HR magazine.