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

How does Airbnb improve customer and renter trust while reducing risks that its platform will be used for illegal purposes?

Describe how Uber is a "big data" firm and how data gives the firm advantages over traditional and new rivals.

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

While unions and hotel chains might not like Airbnb and feel threatened by its offerings, Airbnb is legal in nearly every market worldwide since private citizens are fully empowered to rent property that they own.

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

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

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.

Which of the following is *not* true regarding the competitive dynamics of most sharing economy marketplaces?

Citizen suppliers in the sharing economy may find their _______ costs increase due to increased product use and an increase in perceived risk over time.

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