This paper was produced as part of the connected consumption and connected economy project of the connected learning research network of the. 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. It allows multiple end users to collectively develop and consume it services and applications, versus purchasing and maintaining them on an individual basis. The term sharing economy, also known as collaborative economy, collaborative consumption or peertopeer economy, is no longer a novelty or an unknown phenomenon of our modern society. Interestingly, the sharing economy is a field of activity where the much maligned african tribal system comes into its own, creating international, decentralised networks of trust that facilitate. Lots of articles about the sharing economy can get quite technical, with discussions of economic models and lots of other jargon. An economic system in which assets or services are shared between private individuals, either free or for a fee, typically by means of the internet. By too big, i do not mean in terms of impact or scale. If your personal safety is threatened, call emergency personnel immediately.
This article defines the sharing economy as a technologically enabled socioeconomic system with five key characteristics i. Zeckhauserx may 10, 2019 abstract new internetbased \ sharing economy markets enable consumerowners to rent out. It can be contrasted with full commonsoriented peer production, and with crowdsourcing. 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. The lack of a common definition also makes it difficult to quantify how much the sharing economy is worth, even though several reports have tried to do so. In laymans terms, a sharing economy is an economic model where assets are shared directly by stakeholders, after coordination has been conducted over the internet. Oct 21, 2016 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. Policy confusion about the exact definition of the sharing economy represents a big opportunity for companies competing in it. If you want to keep your lawn in control, you need to buy a weed whacker. Trust in this economy is often reduced to the use of reputation systems alone. Issues facing platforms, participants, and regulators 1 executive summary introduction.
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 digital firms that provide the platforms are often collectively referred to as belonging to the sharing or collaborative economies, among other descriptors. Sharing economy meaning of sharing economy by lexico. The sharing economy is a system in which people offer the use of their skills or things. The sharing economy is a concept in which it products and services are used, shared and leased to individuals and organizations. Putting the sharing economy into perspective utrecht university. Studie sharing economy im wirtschaftsraum deutschland bmwi. But uber, as its name suggests, is hierarchical in structure.
How africa can inspire the future of the sharing economy. How the sharing economy can make its case mckinsey. Consolidated, systemic conceptualization and definition of. The sharing economy is becoming an increasingly popular way for australians to earn money from their spare time or unused assets. Mar 05, 2015 2 the fundamentals of sharing economy, as well as 3 the major players, and 4 the future of shareconomy. 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. In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of fulltime employees. Sharing economy nach oben genannter definition handelt.
The sharing economy is used for business models whereby users are sharing creative content, but using a proprietary platform which sells their aggregated attention to advertizers, such as on facebook. Fast forward to 2017 and the reality is vastly different. Our model consists of a sharing platform, a set of product owners who are interested in sharing the product, and a set of product users renters. Conceptualizing the sharing economy through presenting a. This can reduce costs for available goods, services, and time. The emergence and development of a sharing economy tomasz kasprowicz.
The purpose of this article is to offer a clear conceptualization of the sharing economy by developing a consolidated, systemic definition. The current and future state of the sharing economy. Beyond a disillusionment with consumerism, whats driving this trend is data. Two wellknown digital platforms have captured markets in transportation uber and shortterm accommodations airbnb, but sharing economy businesses are emerging in nearly every sector of the economy.
But in fact, almost nothing could be further from the truth. In line with this definition, the sharing economy has been defined to include the renting. Weve already seen their influence reflected in todays sharing economy, a socioeconomic system built around the sharing of resources, with the emergence of services from airbnb to uber and. The sharing economy, also commonly referred to as collaborative consumption, the collaborative economy or the peertopeer. At the center of the sharing economy, of course, is the customer experience, especially as younger digital natives join the market expecting apps, chatbots, social sharing, and the like. Sharing economy definition of sharing economy by merriam. A snapshot of the sharing economy by the numbers perspective from industry specialists iii. In what is called collaborative consumption, the sharing economy or the peer economy, owners rent out something they are not using, such as a car, house or bicycle to a stranger using these peer. 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 european union, for example, is soon to decide whether ride sharing is a digital service regulated under the 2006 eu services directive or a transport service regulated by member states. T erms can become hard to define when they become too big.
Definition of the sharing economy there is nothing new about the tendency to exchange and share goods or services such as cars, special tools, time or knowledge, but until recently these exchanges used to take place essentially on an informal basis, i. 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. Definition of sharingeconomy noun in oxford advanced learners dictionary. Think airbnb probably the name most recognizable when it comes to sharing economy. Peers can use these communitybased online platforms to trade, share, rent or donate goods and services. The sharing economy has attracted a great deal of attention in recent months. 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. The sharing economy is a direct outcome of these signifi cant shifts in priorities, and also refl ective of individuals desires to collaborate and engage with one another using technology. 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. To many people, the sharing economy and gig economy are the same thing. Not only is the sharing economy in the news daily, it also has spurred a growing and at times mindboggling list of related terms. 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. But the idea of the sharing economy is quite simple.
It monitors and controls its drivers, demanding that they purchase services from it while guiding their movements and determining their level of earnings. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Jun 02, 2017 at euobserver, we speak mostly of the sharing economy, because this is the phrase that is most often and widely used by the general public. Airbnb, snapgoods and 12 more pioneers of the share economy. Sharing economy definicion y significado diccionario ingles. Verify the identity of the driver and the car before entering the vehicle. A sharing economy, by definition, is lateral in structure. This new form of economy encompasses a multiplicity of business models and a great variety of economic activities, ranging. Platforms such as airbnb and uber are experiencing explosive growth, which, in turn, has led to regulatory and political battles. Sharing economy meaning in the cambridge english dictionary. Putting the sharing economy into perspective sciencedirect. Proponents say this sharing economy creates more choice and control for customers, while critics say it unfairly undermines competition.
The sharing economy is built on the idea of collaborative consumption. Sharing economy definition and meaning collins english. 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. It describes a system in which people or companies make money through sharing their assets. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. The definition used in belgium flanders for this purpose, is based on a definition created by idea 2017 for the flemish government4,which defines the sharing economy as an economic system that allows consumers and companies to make temporary use of underused. Please do not cite or quote without permission of author. The sharing hub, a sydney accelerator for sharing economy startups, estimates that one in ten australians are participating as suppliers in the sharing economy to boost their income. In our competitive economy, innovation is a major driver of longterm consumer welfare gains.
Sharing economy auch shared economy oder share economy hei. Sharing economy is an umbrella term that describes a wide range of economic activities that have been made possible by technology. Feb 03, 2020 sharing economy in a nutshell is any platform that uses the internet to connect dispersed networks of individual i. The sharing economy is built on the idea that sharing certain goods, services, and skills is more efficient. Sharing is a form of social exchange that takes place among people known to each other, without any. Research in these area comes from many disciplines, from law to economy to policy. Although homestays have existed for as long as people have traveled, technological innovations have made it possible for individuals to offer rooms to a global marketplace of consumers. The results show various antecedents of trust in the sharing economy e. In the traditional capitalist economic model, goods are owned by individuals. In a space as new and as ambiguously defined as the sharing economy, we wanted to hear from the people closest to it, those at the leading edge of technology and business who could offer nuanced views of whats happening and why it matters.
The wideranging implications of the shift to a sharing economy, a new model of organizing economic activity that may supplant traditional corporations. 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. In classic two sided markets, users on both sides bene t from the increasing size of the other side, e. A clear conceptual understanding is paramount for integrated discourse and research on the sharing economy. An allencompassing definition of these economies is likely to remain elusive. How the sharing economy is changing consumer behavior anthony quinones amanda augustine the sharing economy has moved mainstream as technology has allowed people to overcome the trust gap ride and accommodation sharing are the most mature areas, but other sectors are growing fast. 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. The sharing economy, also known as peertopeerbased sharing, is an economic system based on platforms that enable the sharing of an asset or resource among peers. Mar 08, 2020 sharing economy definition is economic activity that involves individuals buying or selling usually temporary access to goods or services especially as arranged through an online company or organization. The ridesharing app will give you the drivers photo and the vehicles license plate number. The sharing economy what it is, examples, and how big data. Because many of these businesses are private, its impossible to know the actual size of the sharing economy.
Young people today prioritize things that make their life easier, said meredith ferguson, managing director of research firm dosomething strategic. Some simple economics of the \ sharing economy apostolos filippasy john j. The sharing economy what it is, examples, and how big. 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. 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. Sharing economy definition in the cambridge english. 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 and how it is changing industries. In the sharing economy users share with each other. But the sharing economy isnt really a sharing economy at all. 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. Challenges and opportunities in tourism amfiteatru economic the symbio sis between a product and a servic e creates a su stainable business environmen t for. The business of sharing automotive retail and consumer goods hospitality entertainment, media and communications v.
We explore the economic impact of the sharing economy on incumbent rms. It has potential for creating new businesses that allocate value more fairly, that are more. If you want to be able to drive to the store or the airport, you need to buy a car. Article updated to include market size and statistics for 2018. The sharing economy is a peertopeer activity of acquiring, providing, or sharing access to goods and services often facilitated by an online platform. Sharing economy, also known as collaborative consumption, is a trending business concept that highlights the ability and perhaps the preference for individuals to rent. Giving someone a ride, having a guest in your spare room, running errands for someone, participating in a supper clubthese are not revolutionary concepts.
According to the oxford english dictionary, the sharing economy is defined as an economic system in which assets or services are shared between private. Boosters claim the new technologies will yield utopian outcomesempowerment of ordinary people, efficiency, and even lower carbon footprints. This definition explains the meaning of the sharing economy, also known as peertopeerbased sharing, and how its present form is facilitated by digital. Ridesharing, apartmenthome lending, peertopeer lending, reselling, coworking, talentsharing the sharing economy, sometimes also called the collaboration economy, is taking off in all sorts of niches. Understanding the sharing economy weforum world economic. What is the sharing economy example companies, definition. The definition of the sharing economy adopted in this study is also similar to the one used by goudin 2016 in his report for the european parliament, and by beck et al. 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.
However, the sharing economy s implications for marketing thought and practice remain unclear. 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. Community libraries emerged in the 18th century, allowing people to lend and borrow books to and. The sharing economy allows people to make money from their possessions by renting them out when they arent using them. Clarifying the definition of the sharing economy is important, as both advocates and opponents are asking for defined regulations in order to protect businesses and individuals alike.
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