Peer-to-Peer Rental Markets in the Sharing Economy
Peer-to-Peer Rental Markets in the Sharing Economy
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DOI:
10.2139/ssrn.2574337
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发表时间:
2015-10
期刊:
影响因子:
--
通讯作者:
S. Fraiberger;A. Sundararajan
中科院分区:
文献类型:
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作者:
S. Fraiberger;A. Sundararajan
To investigate whether peer-to-peer rental markets for durable goods are welfare-improving, we develop a new dynamic model of such markets in which users with heterogeneous utilization rates may also trade in secondary markets. We calibrate our model with US automobile industry data and transaction-level data from Getaround, a large peer-to-peer car rental marketplace. Counterfactual analyses illustrate significant shifts away from asset ownership as marketplace access grows. Used-good prices fall and replacement rates rise, while gains in consumer surplus range from 0.8% to 6.6%. The changes in consumption mix and the surplus increases are significantly more pronounced for below-median income consumers.