Turnover Cost and the Distribution of slave Labor in Anglo-America
研究18世纪英帝国和美国南部奴隶制下，雇主因面临高离职成本而选择使用奴隶而非自由劳动力的现象，并分析了相关制度安排。
In the eighteenth-century British Empire and the antebellum South, slaves were concentrated in domestic service and rural enterprises like agriculture and ironworks. I argue that employers in these sectors chose to employ slaves rather than free labor because they faced especially high turnover costs—that is, costs of searching for a worker and going without labor when a free worker quit or was fired. In the absence of slavery, these sectors were marked by other institutions designed to deal with turnover costs: indentured servitude, employment agencies, and deferred compensation.