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Online Labor Markets: An Informal “Freelancer Economy”

Online Labor Markets - The IBIT ReportThe Institute for Business and Information Technology (IBIT) is pleased to announce the release of The IBIT Report – Online Labor Markets: An Informal “Freelancer Economy” authored by Kevin Yili Hong, Temple University and Paul A. Pavlou, Temple University.

In this report, we discuss three aspects of online labor markets. First, we give an overview of the current state of major online marketplaces that offer intermediary services for buyer companies and IT professionals with a focus on one marketplace in particular – Freelancer. Second, we show some findings on the measurable economic benefits online labor markets provide to companies that outsource IT services (measured with consumer surplus) and what factors contribute to higher buyer satisfaction. Third, we offer a novel perspective on the frictions that exist in the micro-level interactions between buyer companies and service providers given the global nature of these markets and how reputation signals can  alleviate these frictions. Finally, we offer practical implications and recommendations for companies that use these marketplaces to outsource IT services to professionals across the globe.

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The IBIT Report

Editorial Board

  • Bruce Fadem
    Co-editor-in-chief, Retired CIO, Wyeth
  • David Schuff
    Co-editor-in-chief, Professor
  • Kent Seinfeld, Retired CIO, Commerce Bank
    Associate Editor
  • Laurel Miller
    Managing Editor
  • Munir Mandviwalla
    Publisher

Board of editors

  • Andrea Anania, Retired VP and CIO, CIGNA
  • Michael Bradshaw, Executive Vice President and CIO, NBCUniversal
  • Jonathan A. Brassington, Founding Partner and CEO, LiquidHub Inc.
  • Larry Dignan, Editor-in-Chief, ZDnet
  • Niraj Patel, Lending Platforms, CIO, IBM
  • Joseph Spagnoletti, Founder, Spagnoletti & Associates, LLC

IBIT REPORTS

Threats and Opportunities in Geographic Information Systems

Implementing Board Oversight of Cybersecurity

Show Me The Way To Go Home

More...

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