FAQ: What are the underlying economic principles on which Australia Freelance Market is based?
The business model used by Australia Freelance Market was developed in collaboration with Prof. Reinhard Selten, Nobel Prize winner of Economics.
It is based on the principles of a completely transparent market place where both freelancers and clients have a comprehensive market overview ensuring optimum competitive pricing strategies. As both the profile and hourly rates of all freelancers are known, supply and demand pressures ensure that participants make the best market pricing decisions.
This is completely in compliance with the game theory as predicted by Prof. Selten. Accordingly, specialist freelancers in short supply can demand optimal rates whereas freelancers with skills that are more commonly available will need to be more competitive in pricing their services.
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