Exam 10: The Sharing Economy, Collaborative Consumption, and Creating More Efficient Markets Through Technology

Airbnb's technology does not allow the firm to monitor to see if hosts are trying to arrange a stay and payment outside of the system.

Rent the Runway and Chegg have chosen to purchase their own inventory for rental to customers, rather than relying on inventory provided by participating citizens suppliers. This incurs an additional cost on these firms. Why would they opt to use this model if startup costs are going to be more expensive?

The sharing economy standouts differ from earlier efforts in that their efficiency is enhanced through streamlined coordination and broader reach by leveraging the ________________.

If eBay and Craigslist are included, some 44 percent of the US and Canadian population have participated in the sharing economy.

Why are sharing economy marketplaces so attractive to consumers?

___________ refers to the technology used to integrate Uber with other services, including OpenTable, GoogleMaps, and Spotify.

Another major concern for firms in the sharing economy is uncertainty around the ability of these firms to continue to consider their workers as ____________ and not employees. a. investors b. critics c. independent contractors d. liabilities e. none of the above

Firms classified as being part of the sharing economy and collaborative consumption are still considered too risky to attract substantial venture capital investment.

Uber prices services according to demand. This allows the company to increase rates during peak periods in order to attract more potential suppliers into the market to meet demand.

Describe Uber's API and how network effects play a role in its attractiveness to partners.

Firms in the so-called "sharing economy" fuel more efficient matching of ___________ and __________, lower costs, enable more efficient resource use, and provide a level of reach and services heretofore unavailable

How does Uber ensure high driver quality?

In what ways is Uber superior to conventional cab service, both for drivers and for customers?

Which of the following statements is true about Airbnb's revenue model?

Uber's CEO views itself as software platform for shipping and logistics.

Highly _______ markets are especially ripe for rollup in electronic marketplaces

General Motors backed Lyft with more than half a billion dollars.

What are some concerns regulators have over the sharing economy using independent contractors and not full time employees?

Why were fashion firms initially threatened by Rent the Runway and why has their position evolved over time?

By mid 2016, ClassPass, the leader in providing fitness classes, was generating $_ million in revenue and was valued at $___ million.