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Open-bid auctions are more likely to result in a contract, write Yili Hong and Paul A. Pavlou.

The “gig” economy is here. Companies like Freelancer.com and Upwork connect millions of freelancers with employers for on-demand work. According to a national survey conducted by research firm Edelman Berland in partnership with Upwork, 34 million people in the U.S. — approximately one […]