Information and communication technologies have long been predicted to spread economic opportunities to rural areas. However, the actual trend in the 21st century has been the opposite. Knowledge spillovers have fuelled urbanisation and pulled job-seekers into large cities, increasing the gap with rural areas. We argue that new assemblages of technologies and social practices, so-called 'online labour platforms', have recently started to counter this trend. By providing effective formal and informal mechanisms of enforcing cooperation, these platforms for projectbased remote knowledge work enable users to hire and find work across distance. In analysing data from a leading online labour platform in more than 3000 urban and rural counties in the United States, we find that rural workers made disproportionate use of the online labour market. Rural counties also supplied, on average, higher-skilled online work than urban areas did. However, many of the most remote regions of the country did not participate in the online labour market at all. Our findings highlight the potentials and limitations of such platforms for regional economic development.
PurposeThis study presents a structured investigation of the most important causes for delay in commercial real estate transactions. It assesses the potential of digital technologies such as “Blockchain”, “Property Passports” or “Automated Valuation Models” to make transactions faster and cheaper.Design/methodology/approachThe authors conduct a focus group interview to identify the individual steps and the parties involved in real estate transactions. Subsequently, the authors discuss the prospects of digital technologies based on semi-structured interviews with real estate professionals and PropTech executives, and a comprehensive screening of technological solutions offered by PropTech firms.FindingsThe lack of an up-to-date, single pool of standardised property information turns out to be the most critical cause for delay in real estate transactions. However, the most promising technologies to mitigate this problem, in particular digital property passports summarising all relevant building information, face substantial barriers to adoption. The real estate industry has so far not been willing to more openly share data, which is a pre-requiste for the successful introduction of property passports. In addition, the principle of caveat emptor makes a lengthy due diligence process essential for buyers.Practical implicationsThe authors conclude that industry-wide collaborations are necessary to help major efficiency gaining technologies to break through. Insurance products should accompany property data log books to guarantee the quality of data provided.Originality/valueThis study considers the potential impact of technologies in the wider context of the complete real estate transaction process. It identifies the major phases of that process and the associated bottlenecks. The authors gather evidence both from industry experts and PropTech executives and contrast their views regarding the potential of digital technologies to remove those bottlenecks.
In the digital economy, innovation processes increasingly rely on highly specialised know-how and open-source software shared on digital platforms on collaborative programming. The information that feeds into the content on these platforms is provided voluntarily by a vast crowd of knowledgeable users from all over the world. In contributing to the platforms, users invest their time and share knowledge with strangers to add to the rising body of digital knowledge.This requires an open mindset and trust. In this study, we argue that such a mindset is not just an individual asset, but determined by the local communities the users are embedded in. We, therefore, hypothesise that places with higher levels of trust should contribute more to StackOverflow, the world’s largest question-and-answer platform for programming questions. In relating the city-level contributions of 266 OECD metropolitan areas to infrastructure, economic, and trust measures, we find this hypothesis confirmed. In contrast, click rates to the platform are solely driven by infrastructure and economic variables, but not by trust. These findings highlight the importance of societal values in the 21st century knowledge economy: if policy-makers want to develop a lively local digital economy, it is not enough to provide fast Internet access and business opportunities. Instead, it is equally important to establish a trust-building environment that fosters sharing of innovative ideas, collaborations, and knowledge spillovers.
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