How africa can inspire the future of the sharing economy. Proponents say this sharing economy creates more choice and control for customers, while critics say it unfairly undermines competition. Giving someone a ride, having a guest in your spare room, running errands for someone, participating in a supper clubthese are not revolutionary concepts. Rethinking logistics with access over ownership may 2017. An introduction to the sharing economy april 21, 2014 april 21, 2014 4 minute read by jordan steingard. Besides typical examples such as uber and airbnb, the. Eight of the best sharing economy companies guardian. The sharing economy is a peertopeer activity of acquiring, providing, or sharing access to goods and services often facilitated by an online platform. The sharing economy and how it is changing industries. The sharing economy is especially relevant to core transportation companies and heavy users of transportation services. In the last few years, companies in the sharing economy have been transforming traditional business sectors, most notably hotels and transport.
In this way, physical assets are shared as services. Airbnb and the unstoppable rise of the share economy. Terminology confusion there are different terms being used to describe the growing space that includes the likes of airbnb, lyft, zipcar and taskrabbit. Establishing the tax compliance norms for this emerging sharing economy industry in its infancy will assist the irs as this segment of taxpayers grows. The sharing economy oxford martin school university of oxford. 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. The concept of the sharing economy is impressively simple. Pdf on jun 21, 2018, georgina gorog and others published the definitions of sharing economy. The sharing economy is an economic principle that is constantly evolving. The sharing economy is the peertopeer based activity of obtaining, giving, or sharing access to good and services.
For example the capitalism was replaced by communism in 1917 in ussr. So far, airbnb is succeeding in attracting customers, but is not yet tak ing much revenue from hoteliers, according to a market analysis of new york city from hotel consultant sean hennessey, who was granted unprecedented access to airbnbs data. Why people participate in collaborative consumption article pdf available in journal of the association for information science and technology 679. Shutterstock if youre still new to the term sharing economy, its generally organized around a technology platform that facilitates the exchange of goods, assets, and services between people across a varied. Second, they take into account the provision of services from one consumer to another via contests or auctions, instead of only counting the trade in underutilised assets. It monitors and controls its drivers, demanding that they purchase services from it while guiding their movements and determining their level of earnings. The sharing economy allows people to make money from their possessions by renting them out when they arent using them. The sharing economy is a concept in which it products and services are used, shared and leased to individuals and organizations. Conceptualizing the sharing economy through presenting a. Sharing economies allow individuals and groups to make money from underused assets. But uber, as its name suggests, is hierarchical in structure.
Uber, airbnb and consequences of the sharing economy. In the very simplest terms, its the use of technology to facilitate the exchanged access of goods or services between two or more parties. In the sharing economy, owners rent or share something they are not using e. Traditionally characterized as a peertopeer resource network, this model is most likely to be used when the price of an asset is high and the asset is underutilized or is operating at idle. Sharing economy meaning in the cambridge english dictionary.
Sharing economy is an umbrella term referring to the practices of sharing, exchange or rental of goods and services to others through it without the transfer of ownership. Sharing economy, also known as collaborative consumption, is a trending business concept that highlights the ability and perhaps the preference for individuals to rent. Some of the salient features of an economy are as follows. Giving someone a ride, having a guest in your spare room, running errands for someone, participating in a supper club. Sharing economy definition of sharing economy by merriam. Traditionally characterized as a peertopeer resource network, this model is most likely to be used when the price of an asset is high and the asset is underutilized or is operating at idle capacity. This paper compares sharing and collaborative consumption and finds that both are growing in popularity today. Access over ownership is the mantra of the sharing economy. This article defines the sharing economy as a technologically enabled socioeconomic system with five key characteristics i. Ultimately it will become simply part of the economy, without special terminology, but we are not there yet. Its advocates think that it provides easy access to a wide range of services that are often of higher quality and more affordable than those provided by traditional. New internetbased \ sharing economy markets enable consumerowners to rent out their durable goods to nonowners. For example, a car owner may allow someone to rent out her vehicle while she is not using it, or a condo owner may rent out his condo while hes on vacation.
The sharing economy has had a positive impact on tourism as well as a negative one. The current and future state of the sharing economy. The sharing economy and tourism european parliament. The sharing economy promises to increase efficiency and effectiveness by reducing transaction costs and. Variously referred to as crowdbased capitalism, the collaborative economy, or the gig economy for a full list click here the shared economy refers to decentralised, peertopeer economic. Article pdf84kb the sharing economy, popularized by the likes of airbnb and uber, has enjoyed remarkably rapid growth over the last five years and looks set.
According to the oxford english dictionary, the sharing economy is defined as an economic system in which assets or services are shared between private individuals, either for free or for a fee, typically by means of the internet. Economic institutions can be created, destroyed, replaced or changed. The current and future state of the sharing economy brookings. A sharing economy, by definition, is lateral in structure. Defining the sharing economy for sustainability mdpi.
The sharing economy what it is, examples, and how big. The sharing economy is a system in which people offer the use of their skills or things they own, using the internet. The sharing economy is currently the talk of the town, thanks largely to the international success of airbnb and uber. The labour share is defined here as the share of net national income that is received by workers in the form of labour compensation. The sharing economy platform with the transnational strategy and customer centricity which owes its market dominance by offering web and mobile friendly online community marketplace for the hosts.
The sharing economy platform with the transnational strategy and customer centricity which owes its market dominance by offering web and mobile friendly online community marketplace for the hosts and guests, and with the transparent dual charging and rating systems, the present cannot ignore anymore. Based on this definition, the sharing economy can be distinguished from three other types of platforms that are sharing economy examples predating the internet. It allows multiple end users to collectively develop and consume it services and applications, versus purchasing and maintaining them on an individual basis. Sharing is a phenomenon as old as humankind, while collaborative consumption and the sharing economy are phenomena born of the internet age. Botsman 2015 defines the collaborative economy as an economic. Sharing economy meaning of sharing economy by lexico. The wideranging implications of the shift to a sharing economy, a new model of organizing economic activity that may supplant traditional corporations. The sharing economy is a massive business phenomenon that is transforming many industries and challenging many traditional business models. The sharing economy might be a significant step toward more efficiently tapping into the wealth of physical things owned by individualsas opposed to corporationsbut its still vastly. Understanding the sharing economy weforum world economic. The definition of the sharing economy adopted in this study is also similar to the one. Putting the sharing economy into perspective sciencedirect. Sharing and gift giving remain the foundation of community life in many cultures.
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