Using online platforms, millions of consumers have started to o. New internetbased \ sharing economy markets enable consumerowners to rent out their durable goods to nonowners. With its calls to fight old economy industries, the sharing economy seems to borrow from the fuck the man ethos of earlier generations of sharers, from hippies and activists sharing their lives in communes to punk rock kids distributing free zines at benefit shows to techies sharing music files on napster. Transaction costs and the sharing economy, 26th european regional conference of the international. If it were able to provide decent earnings and reasonably low prices, the sharing economy could be an important component of that new model. The circular economy and sharing economy are not synonyms, but they can be related. Putting the sharing economy into perspective sciencedirect. The share economy is a concept of a type of economy that is not monetarised, and is not based in a capitalist system. How the sharing economy can make its case december 2015 article. Zervas et al 2015 study the effects of airbnb on the hotel industry in texas, finding more rentals on airbnb associated with lower hotel revenues and prices. The sharing economy is especially relevant to core transportation companies, as well as to heavy users of transportation services. In the olden times when there was no monetization, people would go to one another and exchange goods against what t. In addition, digital platforms can enable matching of a diverse.
New internetbased \sharing economy markets enable consumerowners to rent out their durable goods to nonowners. Nlc conducted the mail and email survey of city officials between february and april 2015. But the sharing economy isnt really a sharing economy at all. Pdf winter 2015 adapting to the sharing economy katja. The rise of the sharing economy is arguably one of the most signi. Understanding the opportunities for growth for the past five years we have seen the rise of a new trend enabled by technology. Jul 17, 2015 the sharing economy for these businesses has been the most effective in urban areas so much so that it has been disruptive to the existing competition there that are not using a shared economy model. Cars and bedrooms are the most cited examples, but the sharing economy includes everything from household appliances to land use. Sharing economy, sustainability, collaborative consumption. They criticise the sharing economy for tax evasion and unfair competition. The sharing economy july 2016 solange le jeune, sustainable investment analyst for professional clients only. Sharing is a form of social exchange that takes place among people known to each other, without any.
The sharing economy is also commonly referred to as collaborative consumption, the collaborative economy, or the peertopeer economy. The focus of this research is understanding how blockchain can be exploited to create decentralised, shared economy applications that allow people to monetise, securely, their things to create more wealth. Cars and bedrooms are the most cited examples, but the sharing economy. Moreover, the sharing economy is not defined the same way around the world. Companies can benefit from the trend toward collaborative consumption through creative new approaches to defining and distributing their offerings. The business of sharing automotive retail and consumer goods hospitality entertainment, media and communications v. The sharing economy what it is, examples, and how big. The rise of the socalled sharing economy has created new competition across a number of industries, most notably hotels, through airbnb, and taxis, through ridesharing services like uber, lyft, and sidecar. Why people participate in collaborative consumption juho hamari game research lab, school of information sciences, university of tampere, fi33014 tampereen yliopisto, finland, and aalto university school of business, p. Value of the global sharing economy 20142025 statista. In reality, most of these newdigital economy services involve the more efficient utilization. Contributions to the political debate by the cologne institute for economic research competition in the sharing economy iw policy paper 19 2015.
Because many of these businesses are private, its impossible to know the actual size of the sharing economy. Sustainability perspectives on the sharing economy. However, a growing departure from traditional business models and the influx of startup companies offering ondemand services has led to ambiguity around the term. For example, an uber driver has the ability to work. Familiarity with sharing economy services in the u. Our company and the airbnb community are leaders in the new sharing. The sharing economy and the circular economy are two economic models we are increasingly hearing about, but what are they, and what is the difference. Companies can benefit from the trend toward collaborative consumption through creative new approaches to defining and distributing. Shared economy tax formerly shared economy cpa is the premiere tax firm for 1099 independent contractors and those working in the sharing economy to help with tax planning, compliance, preparation and savings. Crowdsourcing, sharing economy and development 5 the sharing economy has the potential to be applied in a diverse range of sectors, which include3.
Giving someone a ride, having a guest in your spare room, running errands for someone, participating in a supper clubthese are not revolutionary concepts. Growth of the sharing economy 3 executive summary 5 main drivers 9 main features of sharing economy companies12 business models a contender for the throne 14 emergence of the model in certain key sectors 16 i. The current and future state of the sharing economy. Mar 05, 2015 2 the fundamentals of sharing economy, as well as 3 the major players, and 4 the future of shareconomy. In 2015, the phrase sharing economy officially hit the pages of the oxford english dictionary. How the sharing economy creates jobs, benefits consumers, and raises policy questions before the subcommittee on commerce, manufacturing, and trade. The sharing economy and how it is changing industries. Cities play a central role in deciding which sharing economy practices are adopted and which are rejected.
The sharing economy in developing countries 4 enabling entrepreneurship sharing economy platforms can enable more microentrepreneurship and support people who are in parttime work jain, 2015. The truth of the matter is that the sharing economy is a floating signifier for a diverse range of activities. Today, however, with the corporatization of a number of the leading players, the role of the sharing economy in a just and sustainable transition is an open question. What is even more significant is the ability of the modern sharing economy to get users to overcome any trust gap between them and a stranger by establishing trust in the connection process itself. Cc has been expected to alleviate societal problems such as hyperconsumption, pollution, and poverty by lowering cost of economic coordination within communities. The sharing economy what it is, examples, and how big data, platforms and algorithms fuel it bernard marr contributor opinions expressed by forbes contributors are their own. Pdf sustainability perspectives on the sharing economy. The sharing economy, popularized by the likes of airbnb and uber, has enjoyed remarkably rapid growth over the last five years and looks set to scale new heights over the next decade. For hosts, the economic benefit of airbnb is often lifechanging, and for cities, it is revitalizing for neighborhoods and small businesses alike. The sharing economy allows people to conveniently access goods and services in sustainable ways, to engage in new experiences, and to capitalize on greater economic. Jun 03, 2016 also known as collaborative consumption or peertopeer p2p, the sharing economy challenges traditional notions of private ownership and is instead based on the shared production or consumption of goods and services. Sizing the revenue opportunity, pwc, 2014 the rise of the sharing economy the sharing economy is growing fast, disrupting traditional models, and will rival the rental market1 in size by 2025 over the past decade, the world has witnessed the rise of a new sharing economy one where.
This is the problem were trying to solve at trulioo. What is new, in the sharing economy, is that you are not. Sharing economy services have exploded in popularity over recent years with many expecting this trend to continue, with the total value of the global sharing economy predicted to. Surveys were sent to the chief elected officials in a sample of 986 cities. As competition increases, consumers have new options and incumbents may be forced to respond. The capitalist sharing economy is a way of purchasing goods and services that differs from the traditional business model of corporations hiring employees to produce products to sell to consumers. The sharing economy oxford martin school university of oxford. The sharing economy is a growing trend away from the exclusive ownership and consumption of resources to one of shared use and consumption, benjaafar said. The sharing economy is a peertopeer activity of acquiring, providing, or sharing access to goods and services often facilitated by an online platform. April rinne is a sharing economy expert and a world economic forum young global leader. From cars to houses, people around the world are realising what they can experience without being encumbered. How, for example, could sharingeconomy companies help brazils government if the olympics attract the same number of visitors 1 million as the 2014 world cup did.
The sharing economy and consumer protection regulation. Its origins were in notforprofit initiatives such as wikipedia 2001 and couchsurfing and freecycle both 2003. Zervas et al 2015 study the effects of airbnb on the hotel industry in texas, finding more rentals on. Botsman, 2015, access based consumption, the shared economy and technology hamari et al.
We model such markets, and explore their equilibria both in the shortrun, in which ownership decisions are xed, and in the longrun, in which ownership decisions can be changed. It has disrupted mature industries, such as hotels and automotives. Rauch and david schleicher1 abstract in the past five years, sharing economy firms like uber, zipcar, airbnb and taskrabbit have generated both huge. The sharing economy refers to economic activity centred around online platforms, based on sharing underused assets or services, for free or for a fee, on a peertopeer basis. Botsman, 2015, accessbased consumption, the shared economy and technology hamari et al. Also in 2015, the business of sharing by alex stephany, ceo of justpark, was published by palgrave macmillan. This paper explores how the internet of things and blockchain technology can benefit shared economy applications. The concepts of businesstoconsumer online platforms or the platform economy schor and attwoodcharles, 2017 are also associated with the sharing economy demary, 2015. Dec 06, 2016 in india, till date, the concept of shared economy has been impactful where physical assets are consumed as services i. How airbnb benefits communities founded in august of 2008 and based in san francisco, california, airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world online or from a mobile phone. The term sharing economy is somewhat of a misnomer.
Ever since declaring the sharing economy a national priority in 2015, and that sharing would comprise 10% of chinas gdp by 2020, the chinese government has taken an increasingly broad view towards what is included. Feb 10, 2015 verified identity helps peel back the first layer of trust between strangers, which is crucial for the success of the sharing economy. The current and future state of the sharing economy niam yaraghi and shamika ravi 1 1 niam yaraghi is a fellow at the governance studies center for technology innovation. Why people participate in collaborative consumption article pdf available in journal of the association for information science and technology 679. Even since our great grand founders adam and eva shared an apple, the concept of collaborative consumption existed in human nature. Our aim with this paper is to put the sharing economy into perspective by providing a conceptual framework that allows us to define the sharing economy and its close cousins and to understand its sudden rise from an economichistoric perspective section 2, to assess sharing economy platforms in terms of the economic, social and environmental. During last years, icts have enabled the rise of the socalled collaborative consumption cc a form of consumption where people share goods and services online. Impacts synopsis shared mobility definitions and impacts special edition spring 2015 transportation sustainability research center university of california, berkeley by susan shaheen, ph. Verified identity helps peel back the first layer of trust between strangers, which is crucial for the success of the sharing economy. The opportunities and risks of the sharing economy written. Crowdsourcing, sharing economies and development arxiv. The sharing economy in developing countries about the authors the institute for sustainable futures isf was established by the university of technology, sydney in 1996 to work with industry, government and the community to develop sustainable.
Sharing economy defined the word shareconomy is coined from the phrase sharing economy which, to this day, remains to be a blurry concept to some, primarily because of how broad the subject is. Delningsekonomi eller sharing economy och collaborative economy ar samlings. Adapting to the sharing economy instead of buying and owning products, consumers are increasingly interested in leasing and sharing them. According to botsman 2015, sharing economy encompasses peer to peer. It is goodwill with an instrumental purpose, occupying the rarest of places. Part vii of the cca gives the accc the power to exempt sharing platforms from various competition laws where the commission is satisfied that doing so. Community libraries emerged in the 18th century, allowing people to lend and borrow books to and.
Please do not cite or quote without permission of author. This paper was produced as part of the connected consumption and connected economy project of the connected learning research network of the. The terms sharing economy collaborative consumption peer to peer economy are among the most popular to describe the phenomenon as peer to peer sharing of access to underutilised goods and services, which prioritizes utilization and accessibility over ownership schor and fitzmaurice, 2015. Certain sharing economy players have grown into global companies in the space of only a few years. Critics see in the sharing economy a threat to safety, health and disability compliance standards. Journal of the association for information science and technology, 2015, doi. By unlocking the sharing economy today, can companies transform todays threat. Economic development of the sharing economy in tourism the european commission estimated in 2016 that the gross revenue in the eu from sharing economy platforms and providers amounted to 28 billion in 2015. Understanding the sharing economy weforum world economic. There are a range of benefits associated with home sharing, including positive social and environmental impacts. Jan 21, 2015 2015 will be a pivotal year for the sharing economy, cities, and the new global context. Emerging trends in the shared economy space in 2017. This new trend moves us beyond ownership into experience powered by the ability to share.
A snapshot of the sharing economy by the numbers perspective from industry specialists iii. Data about the sharing economy used in this brief was derived from questions specific to the sharing economy in the broader local economic conditions 2015 survey. Internet of things, blockchain and shared economy applications. Why people participate in collaborative consumption 2015. Our aim with this paper is to put the sharing economy into perspective by providing a conceptual framework that allows us to define the sharing economy and its close cousins and to understand its sudden rise from an economic historic perspective section 2, to assess sharing economy platforms in terms of the economic, social and environmental. How the sharing economy will impact marketing techcrunch. Jan 28, 2015 the sharing economy has been widely hailed as a major growth sector, by sources ranging from fortune magazine to president obama. Further, the unanticipated surge in sharing economy business models and the proliferation of companies that serve as catalysts for collaborative consumption has created a disruption of existing. The sharing economy and the competition and consumer act 2010 businesses in the sharing economy, like all businesses, are subject to australias existing competition laws. Service providers in a sharing economy enjoy greater flexibility, control, and variety than their fulltime employed counterparts. The wideranging implications of the shift to a sharing economy, a new model of organizing economic activity that may supplant traditional corporations. Instead of buying and owning products, consumers are increasingly interested in leasing and sharing them. How can roomsharing services help municipalities host big oneoff events such as the united nations cop21 conference in paris in december 2015 or the 2016 olympics in brazil. The sharing economy is an emerging economic form with the.