Economics 2150A/B Study Guide - Quiz Guide: Collaborative Consumption, Major Sundarrajan, Airbnb

• School: Western University
• Department: Economics
• Course: Economics 2150A/B
• Professor: Colin Denniston

Document Summary

The sharing economy is a socio-economic ecosystem built around the sharing of human, physical and intellectual resources. It includes the shared creation, production, distribution, trade and consumption of goods and services by different people and organisations. A sharing economy enables different forms of value exchange and is a hybrid economy. Sharing economy means to share knowledge and physical assets with other people, often private people. It is about do not own things but rent things. Collaborative consumption (cc) can be defined as the set of resource circulation systems, which enable consumers to both "obtain" and "provide", temporarily or permanently, valuable resources or services through direct interaction with other consumers or through a mediator. Examples: car sharing, travel, finance, free access to knowledge, A renewed belief in the importance of community. A torrent of peer-to-peer social networks and real-time technologies. A global recession that has fundamentally shocked consumer behaviours.