Marie-Luise Gross is a translator from Germany working at the University of Vienna. She documents the growing translation industry market value but notes prices are falling 30% since 1995 and commoditization threatens the industry. She proposes creating an online marketplace to connect translators and clients in a way that commits to fair prices, builds trust, fosters long-term partnerships, and exchanges knowledge to address this "lemons problem" of information asymmetry and quality uncertainty in the translation market.

1. FAIR TRANSLATIONS
MARIE-LUISE GROß
GERMANY
UNIVERSITY OF VIENNA
#
Sonntag, 10. November 13
1

2. MARIE-LUISE GROß
BREAKING THE WALL OF FAIR TRANSLATIONS
Intercultural
communication can
be tricky...
Sonntag, 10. November 13
50.000.000.000 $
37.500.000.000 $
25.000.000.000 $
Source: http://www.beinsport.tv/
Be careful
with the cat!
No say the cat
is in the sack,
when you have
not the cat in
the sack. G. Trappatoni
...that‘s why the demand
for professional
translation services is
growing:
12.500.000.000 $
0 $
1995
Translation Market Value
2000
2005
2010
2011
2012
2013
Source: Common Sense Advisory
#
2015
2

3. MARIE-LUISE GROß
BREAKING THE WALL OF FAIR TRANSLATIONS
Intercultural
communication can
be tricky...
Sonntag, 10. November 13
50.000.000.000 $
-30%
since 1995
37.500.000.000 $
Source: http://www.beinsport.tv/
Be careful
with the cat!
No say the cat
is in the sack,
when you have
not the cat in
the sack. G. Trappatoni
...that‘s why the demand
...but as prices of
for professional
translation services
translation services is
are falling...
growing:
25.000.000.000 $
Source: Common Sense Advisory
#
...commoditization
threatens the industry.
12.500.000.000 $
0 $
1995
Translation Market Value
2000
2005
2010
2011
2012
2013
2015
3

4. #
MARIE-LUISE GROß
BREAKING THE WALL OF FAIR TRANSLATIONS
George
Akerlof
Nobel Prize
winner
2001
Source: Wikipedia.org
It‘s a lemons
problem!
The solution:
An online marketplace
for fair translations!
information asymmetry
+ quality uncertainty
adverse selection
market failure
Sonntag, 10. November 13
•Commit to fair prices
•Build trust
•Foster long-term partnerships
•Exchange knowledge
•Gain visibility
4