Optimal hiring and retention policies for heterogeneous workers who learn
Publication
, Journal Article
Arlotto, A; Chick, SE; Gans, N
Published in: Management Science
January 1, 2014
We study the hiring and retention of heterogeneous workers who learn over time. We show that the problem can be analyzed as an infinite-armed bandit with switching costs, and we apply results from Bergemann and Välimäki [Bergemann D, Välimäki J (2001) Stationary multi-choice bandit problems. J. Econom. Dynam. Control 25(10):1585-1594] to characterize the optimal hiring and retention policy. For problems with Gaussian data, we develop approximations that allow the efficient implementation of the optimal policy and the evaluation of its performance. Our numerical examples demonstrate that the value of active monitoring and screening of employees can be substantial. ©2014 INFORMS.
Duke Scholars
Published In
Management Science
DOI
EISSN
1526-5501
ISSN
0025-1909
Publication Date
January 1, 2014
Volume
60
Issue
1
Start / End Page
110 / 129
Related Subject Headings
- Operations Research
- 46 Information and computing sciences
- 38 Economics
- 35 Commerce, management, tourism and services
- 15 Commerce, Management, Tourism and Services
- 08 Information and Computing Sciences
Citation
APA
Chicago
ICMJE
MLA
NLM
Arlotto, A., Chick, S. E., & Gans, N. (2014). Optimal hiring and retention policies for heterogeneous workers who learn. Management Science, 60(1), 110–129. https://doi.org/10.1287/mnsc.2013.1754
Arlotto, A., S. E. Chick, and N. Gans. “Optimal hiring and retention policies for heterogeneous workers who learn.” Management Science 60, no. 1 (January 1, 2014): 110–29. https://doi.org/10.1287/mnsc.2013.1754.
Arlotto A, Chick SE, Gans N. Optimal hiring and retention policies for heterogeneous workers who learn. Management Science. 2014 Jan 1;60(1):110–29.
Arlotto, A., et al. “Optimal hiring and retention policies for heterogeneous workers who learn.” Management Science, vol. 60, no. 1, Jan. 2014, pp. 110–29. Scopus, doi:10.1287/mnsc.2013.1754.
Arlotto A, Chick SE, Gans N. Optimal hiring and retention policies for heterogeneous workers who learn. Management Science. 2014 Jan 1;60(1):110–129.
Published In
Management Science
DOI
EISSN
1526-5501
ISSN
0025-1909
Publication Date
January 1, 2014
Volume
60
Issue
1
Start / End Page
110 / 129
Related Subject Headings
- Operations Research
- 46 Information and computing sciences
- 38 Economics
- 35 Commerce, management, tourism and services
- 15 Commerce, Management, Tourism and Services
- 08 Information and Computing Sciences