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Sticky Norms, Endogenous Preferences, and Shareable Goods

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  • Anders Fremstad

Abstract

The Internet has reduced the cost of borrowing and lending “shareable goods,” including tools, gear, toys, lodging, and vehicles. Online platforms can better match people with underutilized goods, but it may take time for people to develop sticky norms and endogenous preferences that are conducive to greater peer-to-peer sharing. This study estimates the current and potential value of sharing items across households. Data from the General Social Survey, the website NeighborGoods, and a new survey show that peer-to-peer borrowing is already worth at least $179 a year for 30% of Americans. Spending on shareable goods provides an upper bound on the potential gains from sharing. The consumer expenditure survey reveals that the average household spends $9,090 each year on shareable goods. Private vehicles account for 80% of these expenses, which suggests that the largest opportunities may be in greater car-sharing and ride-sharing.

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  • Anders Fremstad, 2016. "Sticky Norms, Endogenous Preferences, and Shareable Goods," Review of Social Economy, Taylor & Francis Journals, vol. 74(2), pages 194-214, June.
    • Handle: RePEc:taf:rsocec:v:74:y:2016:i:2:p:194-214
    DOI: 10.1080/00346764.2015.1089107
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    Cited by:

    1. Fremstad, Anders, 2017. "Does Craigslist Reduce Waste? Evidence from California and Florida," Ecological Economics, Elsevier, vol. 132(C), pages 135-143.
    2. Fremstad, Anders & Underwood, Anthony & Zahran, Sammy, 2018. "The Environmental Impact of Sharing: Household and Urban Economies in CO2 Emissions," Ecological Economics, Elsevier, vol. 145(C), pages 137-147.
    3. Andreas Chai, 2018. "Household consumption patterns and the sectoral composition of growing economies: A review of the interlinkages," Discussion Papers in Economics economics:201802, Griffith University, Department of Accounting, Finance and Economics.
    4. Erickson, Kristofer & Sørensen, Inge, 2016. "Regulating the sharing economy," Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 5(2), pages 1-13.
    5. Basukie, Jessica & Wang, Yichuan & Li, Shuyang, 2020. "Big data governance and algorithmic management in sharing economy platforms: A case of ridesharing in emerging markets," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    6. Guangling Zhang & Liying Wang & Pengfei Shi, 2019. "Research on Sharing Intention Formation Mechanism Based on the Burden of Ownership and Fashion Consciousness," Sustainability, MDPI, vol. 11(4), pages 1-15, February.
    7. Murillo, David & Buckland, Heloise & Val, Esther, 2017. "When the sharing economy becomes neoliberalism on steroids: Unravelling the controversies," Technological Forecasting and Social Change, Elsevier, vol. 125(C), pages 66-76.

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