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| Author: | Milner, J. M. Pinker, E. J. |
| Title: | Contingent Labor Contracting Under Demand and Supply Uncertainty |
| Journal: | Management Science
2001 : AUG, VOL. 47:8, p. 1046-1062 |
| Index terms: | LABOUR SUPPLY CONTRACTS STAFFING |
| Language: | eng |
| Abstract: | The authors develop mathematical models of the interaction between firms and labor supply agencies when demand and supply are uncertain. The authors consider two models of labor supply uncertainty, termed productivity and availability uncertainty, and study how each affects the nature of the contracts formed. These models reflect two major roles played by the labor supply agency. In the case of productivity uncertainty the authors find that it is possible to construct a contract that coordinates the firm and agency hiring in an optimal way. In contrast, the authors show that in environments characterized by availability uncertainty, optimal contracts are not possible. However, there is a large range of contract parameters for which both parties would benefit from a contract. |
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