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SUMMARY:The Promise and Perils of Collaborative Consumption (Peer-to-Peer 
 Product Sharing) - Saif Benjaafar\, Distinguished McKnight University Prof
 essor and Professor of Industrial and Systems Engineering\, Director\, Cen
 ter for Supply Chain Research\; Director\, Initiative on the Sharing Econo
 my
DTSTART:20160318T123000Z
DTEND:20160318T140000Z
UID:TALK65099@talks.cam.ac.uk
CONTACT:Crystal
DESCRIPTION:We are witnessing a growing trend away from the exclusive owne
 rship and consumption of resources to one of shared use and consumption. T
 his shift is taking advantage of innovative new ways of peer-to-peer shari
 ng that are voluntary and enabled by internet-based exchange markets and m
 ediation platforms. Value is derived from the fact that many resources are
  acquired to satisfy infrequent demand but are otherwise poorly utilized. 
 Several successful businesses\, such as AirBnB for home sharing and RelayR
 ides for the sharing of private cars\, provide evidence of the viability o
 f collaborative consumption. (Collectively\, these businesses and other ma
 nifestations of the collaborative consumption of products and services are
  giving rise to what has become known as the sharing economy.) Collaborati
 ve consumption raises several questions. How does collaborative consumptio
 n affect ownership and usage of resources? Is it necessarily the case that
  collaborative consumption leads to leads to lower ownership\, lower usage
 \, or both (and therefore to improved sustainability)? If not\, what condi
 tions would favor lower ownership\, lower usage\, or both? Who benefits mo
 st from collaborative consumption\, the owners\, renters or the mediation 
 platform? To what extent would a profit-maximizing platform through its ch
 oice of rental prices and membership fees improve social welfare? To what 
 extent do frictions\, such as moral hazard (additional wear and tear rente
 rs place on rented resources) affect platform profit and social welfare? I
 n this talk\, we describe an equilibrium model of collaborative consumptio
 n and use it to address these and other questions and to offer insights in
 to the benefits and pitfalls of the sharing economy.
LOCATION:Cambidge Judge Business School\,  Castle Teaching Room
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