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. While coming up with a solid definition of the sharing economy is difficult schor, 2014, it is still possible to introduce the basic idea involved to facilitate the discussion here. The sharing economy is an economic model defined as a peertopeer p2p based activity of acquiring, providing, or sharing access to goods and services that is often facilitated by a. The current and future state of the sharing economy brookings. Understanding the sharing economy drivers and impediments for.
The sharing economy harnessing the value of idle assets. The article discussed uber, airbnb, and the consequences of the sharing economy. November 2017 progress update a proposed working definition of the uk sharing economy and a framework for identifying its businesses, new information on characteristics of sharing economy businesses and individuals, and experimental data science research identifying whether a business is in the sharing economy or not. According to numerous people from the social economy and some analysts, many initiatives claim to fall under the sharing. The current and future state of the sharing economy. Dec 29, 2016 the sharing economy is the peertopeer based activity of obtaining, giving, or sharing access to good and services.
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. Sharing economy, also known as collaborative consumption, is a trending business concept that highlights the ability and perhaps the preference for individuals to rent or borrow goods rather than buy and own them. The concept of the sharing economy refers to new forms of economic exchange that promote the consumption of goods and services based on the principles. The future of work in the sharing economy what is the sharing economy. The sharing economy is the peertopeer based activity of obtaining, giving, or sharing access to good and services. Oct 21, 2016 the sharing economy is a massive business phenomenon that is transforming many industries and challenging many traditional business models. We asked the founder of frances blablacar, frederic mazzella, how his ride sharing company has evolved to become a prime example of the sharing economy. Property implications of the sharing economy penn state law. Abstract despite the benefits offered by sharing economy, researchers have identified several challenges preventing disadvantaged groups e. Nov 09, 2017 the feasibility of measuring the sharing economy. Sharing economy in a nutshell is any platform that uses the internet to connect dispersed networks of individual i. The sharing economy is an economic model often defined as a peertopeer p2p based activity of acquiring, providing or sharing access to goods and services that are facilitated. The market of sharing economy in china is growing fast its contribution to gdp is expected to grow from 3% in 2015 to 10% by 2020 5 source.
Community libraries emerged in the 18th century, allowing people to lend and borrow books to and. We explore the economic impact of the sharing economy on incumbent rms. State information center of china, internet society of china, compiled by fung business intelligence contribution of the sharing economy to chinas gdp in 2015 was 3% at rmb 1,956 billion sharing economy 3%. Economy research programme at the jrc institute for prospective technological studies, which carries out economic research on information society and eu digital agenda policy issues, with a focus on growth, jobs and innovation in the financed by the directorate general communications networks, content and technology. December 14, 20 abstract peertopeer markets, collectively known as the sharing econom,y have emerged as alternative suppliers of goods and services traditionally provided by longestablished industries. The sharing economy harnessing the value of idle assets author. Conceptualizing the sharing economy through presenting a. The concept of the sharing economy refers to new forms of economic exchange that promote the consumption of goods and services based on the principles of sharing resources, temporary ownership and. The sharing economy what it is, examples, and how big. 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. Sharing and caring countries report from sharing to caring. The scenario analysis will be complemented by 34 case studies covering some of the areas in which the sharing economy models have been particularly relevant e. An examination on the theories and practices of the sharing. The definition of the sharing economy adopted in this study is also similar to the one used.
How the sharing economy will impact marketing techcrunch. Ang jian wei 2 feature article the sharing economy is a system that reduces asset or resource underutilisation for monetary or nonmonetary bene. We will thus view the sharing economy primarily through the lens of information technology. Alternative names for this phenomenon include gig economy, platform. This explains why file sharing, open source software, distributed computing. What is the sharing economy example companies, definition. Understanding the sharing economy weforum world economic. Toyota now offers shortterm leases, and others have made. Transmitted in any form or by any means, including.
The distributive implications of the sharing economy. The social core of the platform economy is peertopeer p2p exchange. Crowdsourcing, sharing economy and development 4 based on the aforementioned description, the key features of the sharing economy are. Withal the fundamental question of what exactly characterizes the sharing economy remains.
The term comes from the open source software movement, and refers to openaccess communities of collaborating individuals benkler, 2006. The sharing economy is a label that covers an extraordinary number of activities, making it hard to shed any light on the phenomenon. Sharing economies allow individuals and groups to make money from underused assets. 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. 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. In this way, physical assets are shared as services. Malaysia ought to embrace the sharing economy but with appropriate safeguards. The rise of the sharing economy has had transformative impacts on extant service delivery models, with wide ranging implications for existing firms, regulators, and the workforce at large.
The sharing economy is built on the idea that sharing certain goods, services, and skills is more efficient. Roughly, the sharing economy involves a type of business built on the sharing of resource allowing customers to access goods when. Apr 09, 2014 the latter point needs a little bit of explanation. Sharing economy meaning in the cambridge english dictionary. Sharing economy, also known as collaborative consumption, is a trending business concept that highlights the ability and perhaps the preference for individuals to rent. The rapid growth of the sharing economy has significant property implications. Sharing economy platforms have experienced a meteoric rise in recent years, and are projected to grow rapidly in the near future. The latter point needs a little bit of explanation. E management theories and business models winnie lo business. The sharing economy what it is, examples, and how big data. For some people, the sharing economy includes uber and airbnb. This can reduce costs for available goods, services, and time. The sharing economy allows people to conveniently access goods and services in sustainable ways, to engage in new experiences, and to capitalize on. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext.
New internetbased \ sharing economy markets enable consumerowners to rent out their durable goods to nonowners. No official definition generally organized around a technology platform that facilitates the exchange of goods, assets, and services between individuals across a varied and dynamic collection of sectors. 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. Jan 17, 2015 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 efficiencies. It changes how people use their own property and interact with the property of others. The sharing economy and the competition and consumer act. Regulating employment relationships in the sharing economy. To explore the future of the sharing economy in a systemic, open and imaginative way, four possible future scenarios for 2030 will be developed. Sharing economy definition, a system in which people rent, borrow, or share commodities, services, and resources owned by individuals, usually with the aid of online technology, in an effort to save money, cut costs, and reduce waste. Policymakers are now taking a closer look at how fair the sharing economy really is and to see if any rules need to be rewritten. Putting the sharing economy into perspective utrecht university. Sharing economy definition of sharing economy by the free.
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