Digi Tech Ch 10 Sharing Economy

allowing firms to pool resources, products, and services in ways that create new markets and market opportunities

people who offer services/ rent out their goods

two sided markets

people who coordinate a peer-to-peer supply

they do not have to pay for capital investments, utilities, maintenance, etc.

rent the runway they own all inventory but still share it

-electronic marketplaces are good (Angie's list/etsy) -

need word of mouth to create trust and credibility for companies social media is helpful for this/ratings/ comments (bias can be an issue)

sometimes it is more financially beneficial for customers to just buy a product and have it forever than to rent it

-people trash airbnbs -car accidents w uber -can they still consider their workers independent contractors and not employees

an efficient market with enough transaction volume to attract a reliable supply of goods at fair, market-rate prices. Group of answer choices

-google invests in uber/lyft -Walgreens have improved customer experience by partnering w sharing economy companies (ex: delivery) -amazon is plotting independent collaboprative comsumption projects

Airbnb empowers citizen hoteliers who make rooms, properties, or other accommodations available online. The firm has arranged over 200 million guest stays in some 81,000 cities and 192 countries. Many accommodations are truly unique, offering consumers a long tail of lodging options. The firm verifies the identity of both parties, monitors all communications between property listers and guests, provides twenty-four-hour support, and additional insurance coverage, all in an effort to reduce transaction friction stemming from a lack of trust.