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Is Optimizing Or Non-Optimizing Objective Of A Firm In The Gig Economy? A Chronological Approach

Author

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  • WAQAS SHAIR

    (Lecturer, School of Economics and Finance, Minhaj University Lahore, Pakistan, Email: waqasshair689@gmail.com)

Abstract

In the gig economy, workers are managed by algorithmic management, where algorithms are being used to allocate, optimize, and evaluate workers. Due to this shift in the pattern, it is getting important to extract the objective of firms in the gig economy. The contribution of this study is twofold: first, the chronological review of previous studies conducted with the objective of a firm in economics. Second, the chronological review gives the direction to determine the objective of the firms in the gig economy. For, this purpose, the underline model presents in this study, which states that the objective of firms in the gig economy is to achieve an aspiration level for firms; on the contrary, traditional profit maximization and other optimization objectives. However, in the gig economy to achieve an aspiration level, firms set different goals that can be achieved with the coalition of firms with different specified economic players.

Suggested Citation

  • Waqas Shair, 2020. "Is Optimizing Or Non-Optimizing Objective Of A Firm In The Gig Economy? A Chronological Approach," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 9(2), pages 101-105, June.
    • Handle: RePEc:rfh:bbejor:v:9:y:2020:i:2:p:101-105
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    References listed on IDEAS

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    1. Kässi, Otto & Lehdonvirta, Vili, 2018. "Online labour index: Measuring the online gig economy for policy and research," Technological Forecasting and Social Change, Elsevier, vol. 137(C), pages 241-248.
    2. Ali, Amjad & Ur Rehman, Hafeez, 2015. "Macroeconomic Instability and Its Impact on Gross Domestic Product: An Empirical Analysis of Pakistan," MPRA Paper 82496, University Library of Munich, Germany, revised 2015.
    3. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    4. De Stefano, Valerio., 2016. "The rise of the "just-in-time workforce" : on-demand work, crowdwork and labour protection in the "gig-economy"," ILO Working Papers 994899823402676, International Labour Organization.
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    Cited by:

    1. Raja Mazhar Hameed & Abdul Rafae Mazhar Raja & Nida Zahid, 2023. "Herding Spillover among the Stock Markets: Pakistan & China Covering Covid-19 and Its Repercussions," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 257-267.
    2. Waqas Shair & Dr. Farhat Rasul & Sidra Raza & Dr. Ayesha Qamar, 2023. "Panic News and media Hype Effects on Stock Market Returns and Volatility amid Infectious Diseases Turmoil," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(4), pages 79-87.

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    More about this item

    Keywords

    optimizing; firms; Gig;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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