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The Real Effects of Sharing Economy: Evidence from Airbnb

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dc.contributor.authorMao, Yifei
dc.contributor.authorTian, Xuan
dc.contributor.authorYe, Kailei
dc.date.accessioned2020-09-11T13:49:28Z
dc.date.available2020-09-11T13:49:28Z
dc.date.issued2018-03-01
dc.description.abstractSharing economy has developed rapidly in recent years, but little is known regarding its real effects. This paper examines how a pioneer of sharing economy—Airbnb—affects local economy. Using venture capital infusions as plausibly exogenous shocks to Airbnb’s expansion into a new county, we find that Airbnb expansion leads to poorer hotel performance in the local county. Meanwhile, Airbnb expansion appears to reduce unemployment rate and increase household income. Further analysis suggests that increased employment is concentrated in industries that are complementary to Airbnb’s business and in employee groups with lower education levels. Our study sheds new light on the real effects of the sharing economy and provides important policy implications for policymakers.
dc.description.legacydownloadsMao12_The_real_effect.pdf: 2146 downloads, before Aug. 1, 2020.
dc.identifier.other12360877
dc.identifier.urihttps://hdl.handle.net/1813/71376
dc.language.isoen_US
dc.rightsRequired Publisher Statement: Copyright held by the authors. Reprinted with permission. All rights reserved.
dc.subjectAirbnb
dc.subjectsharing economy
dc.subjecthotel performance
dc.subjectunemployment
dc.subjectventure capital
dc.subjectJEL code: G22
dc.subjectG29
dc.subjectD31
dc.subjectJ21
dc.titleThe Real Effects of Sharing Economy: Evidence from Airbnb
dc.typepreprint
local.authorAffiliationMao, Yifei: ym355@cornell.edu Cornell University School of Hotel Administration
local.authorAffiliationTian, Xuan: Tsinghua University
local.authorAffiliationYe, Kailei: University of North Carolina at Chapel Hill

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