The more we get together, the more we can save? A transaction cost perspective

Although sharing is not a new subject, sharing behavior enabled by peer-to-peer software technologies is a recent phenomenon. Studies have explored the impact of the sharing economy on consumers by applying the theory of planned behavior, complexity theory, and social exchange theory, but few studies have explored transaction costs in the sharing economy. By integrating network externalities with transaction cost theory, this study ex-plores transaction costs and their determinants in the context of the sharing economy. Structural equation modeling analysis was conducted on data from 375 users of Airbnb. The findings indicate that personalization of asset specificity and transaction frequency negatively influence transaction costs. Additionally, learning of asset specificity and transaction uncertainty positively affects transaction costs, which in turn influence behavioral intention. Furthermore, perceived complementarity has a direct effect on transaction uncertainty. Finally, the number of users moderates the relationship between transaction costs and behavioral intention. This under-standing will assist managers in numerous industries impacted by the rapid development of the sharing economy by providing them with strategies for coping with this trend.

Automated summary

This study examined transaction costs and their determinants in the sharing economy, using structural equation modeling to analyze data from 375 users of Airbnb. The findings suggest that personalization of asset specificity and transaction frequency decrease transaction costs, while learning of asset specificity and transaction uncertainty increase transaction costs, influencing behavioral intention. Perceived complementarity has a direct impact on transaction uncertainty, and the number of users moderates the relationship between transaction costs and behavioral intention. This understanding can guide managers in various industries impacted by the rapid growth of the sharing economy, providing them with strategies to address this trend.