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A Research On Collaborative Economy

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Introduction In recent times, the relative paradigm is gradually eclipsed by an innovative overarching idea of the practice and research: Collaborative economy (Riles 2015). Moreover, collaborative economy is also known as the “umbrella concept” that holds within the information technologies which also means economy sharing (Hamari 2015). With the forthcoming innovations in the market place, the companies are focused on making the most out of the technological resources that are not only leading-edge but as well can save time and money. Even if it is groups of strangers working together or unknown customers, the concept of sharing economy has been permitted into our culture through new forms of established communication. In addition to …show more content…

Analyses of such type of business model is vital when the anticipated worldwide revenue of sharing economy is $ 335 billion by year 2025(Matzler et. al., 2015). Advantages and disadvantages of collaborative economy and the impact of innovation: The concept of collaboration originally started in the USA whereas in Australia, it has started to grow in the recent years in industries like transportation and accommodation sectors for example: Uber and Airbnb. Although collaborative economy is a phenomenon which grew out of the internet age, people were hesitant to drift from the idea of real stores to online market store (Belk 2014). The huge rise in the development of the sharing economy has continued to be the companies which are based outside Australia choosing to venture into the Australian market place (Deloitte Access Economics 2015). Belk (2014) also suggests that sharing economy would involve the process of exchanging what we have Vs getting something which might be of use to us. Gradually, the concept of “sharing economy and online platforms” became a popular trend among the people with different cultural backgrounds, older people and people with disabilities. Benkler (2004) says that he sees sharing as ‘nonreciprocal pro-social behavior’. In other words, internet being a massive pool of shared-content is easily accessible to someone who has an internet connection. Just like how ride-sharers rate each other on Uber, services

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