Sharing Economy
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| Title: | Sharing Economy |
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| Description: | Transactions have always taken place. For hundreds of years that ‘place'was a market or, more recently, a shopping mall. But in the past two decades these physical locations have increasingly been replaced by their virtual counterparts – online platforms. Here, author Michael C. Munger demonstrates how these platforms act as matchmakers or middlemen, a role traders have adopted since the very first exchanges thousands of years ago. The difference today is that the matchmakers often play no direct part in buying or selling anything – they just help buyers and sellers find each other. Their major contribution has been to reduce the costs of organising and completing purchases, rentals or exchanges. The Sharing Economy: Its Pitfalls and Promises contends that the key role of online platforms is to create reductions in transaction costs and it highlights the importance of three ‘Ts'- triangulation, transfer and trust – in bringing down those costs. |
| Authors: | Michael C. Munger |
| Resource Type: | eBook. |
| Subjects: | Cooperation, Transaction costs |
| Categories: | BUSINESS & ECONOMICS / Entrepreneurship, BUSINESS & ECONOMICS / Industries / Computers & Information Technology, BUSINESS & ECONOMICS / E-Commerce / General, COMPUTERS / Electronic Commerce |
| Database: | eBook Collection (EBSCOhost) |
| Abstract: | Transactions have always taken place. For hundreds of years that ‘place'was a market or, more recently, a shopping mall. But in the past two decades these physical locations have increasingly been replaced by their virtual counterparts – online platforms. Here, author Michael C. Munger demonstrates how these platforms act as matchmakers or middlemen, a role traders have adopted since the very first exchanges thousands of years ago. The difference today is that the matchmakers often play no direct part in buying or selling anything – they just help buyers and sellers find each other. Their major contribution has been to reduce the costs of organising and completing purchases, rentals or exchanges. The Sharing Economy: Its Pitfalls and Promises contends that the key role of online platforms is to create reductions in transaction costs and it highlights the importance of three ‘Ts'- triangulation, transfer and trust – in bringing down those costs. |
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| ISBN: | 9780255367912 9780255367929 9780255367936 |
