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Matching theory has been widely accepted as one of the best available descriptions of the frictions in the labor market, but some economists have recently questioned its quantitative accuracy. While unemployment exhibits large fluctuations over the business cycle , Robert Shimer has demonstrated that standard versions of matching models predict ...
In mathematics, economics, and computer science, the stable marriage problem (also stable matching problem) is the problem of finding a stable matching between two equally sized sets of elements given an ordering of preferences for each element. A matching is a bijection from the elements
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 ...
Strategic human resource management is "critical importance of human resources to strategy, organizational capability to adapt to change and the goals of the organization"[citation?]. In other words, this is a strategy that intends to adapt the goals of an organization and is built off of other theories such as the contingency theory as well as ...
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [1] [2] A narrower concept is human capital, the knowledge and skills which the individuals command. [3]
The model argues that the O-ring development theory explains why rich countries produce more complicated products, have larger firms and much higher worker productivity than poor countries. [ 2 ] The name is a reference to the 1986 Challenger shuttle disaster , a catastrophe caused by the failure of O-rings .