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

While some fear Airbnb is taking jobs away from hotel chains, the firm is also creating jobs and driving demand for a whole array of platform-enhancing services, including photographers, key-exchange coordinators, in-home chefs, house cleaners, and ride-sharing services.

Social media profiles can also be used to fight online fraud.

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?

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

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

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

Crowdsourcing has a number of benefits, but problems include the potential for bias and discrimination. How can crowdsourced ratings also reflect the crowd's bias and reinforce discrimination.

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?

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

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.

Why are sharing economy marketplaces so attractive to consumers?