TITLE:
Introduction of Sharing Economy Based on “The Value of Flexible Work: Evidence from Uber Drivers”
AUTHORS:
Freya Huang
KEYWORDS:
Sharing Economy, Airbnb, Logistic Regression Analysis, Property Blocking Behavior, Peer-to-Peer Interactions
JOURNAL NAME:
Modern Economy,
Vol.15 No.4,
April
30,
2024
ABSTRACT: This extensive research paper delves into the sharing economy, focusing primarily on the popular platform, Airbnb. The sharing economy has become a transformative force in our society, driven by innovative technologies that enable peer-to-peer interactions, flexible work arrangements, and efficient use of resources. The essay starts by exploring the basic principles of the sharing economy, underscoring the importance of flexibility and efficiency in a dynamic marketplace where shared access prevails over ownership. Fixed first part of the paper closely examines Uber, highlighting its unique model that grants drivers exceptional flexibility in shaping their work schedules. It delves into the labor supply patterns of Uber drivers, comparing them with traditional employees, and uncovers the complementarity between Uber driving and conventional employment. For the second section, the paper explores Airbnb, emphasizing how it has disrupted the traditional hotel industry by providing travelers with access to distinctive lodging experiences. It investigates how Airbnb collaborates with and challenges traditional hotels, exploring factors like price dynamics and property-blocking behavior. The research extends to logistic regression analysis, providing insights into the determinants of Airbnb status categories and pricing. Supplementary analyses aim to gain a deeper understanding of property-blocking behaviors and supply curve dynamics within Airbnb. In conclusion, this paper offers a thorough examination of the sharing economy, highlighting its transformative potential, strengths, and vulnerabilities. It lays a valuable foundation for future research and discussions on the impact of the sharing economy on modern society and traditional business models.