In particular, these platforms provide cost-saving benefits and convenience to the consumers, while allowing suppliers to generate extra income (Mohlmann, 2015). Thus, many people have started to participate in sharing economy platforms because of the economic and financial benefits it provides both for consumers and suppliers. Sharing economy platforms allow people to share their underutilized properties through user-friendly websites or mobile applications with relatively lower transaction costs and usually at a lower rate compared to those of traditional businesses. Unlike traditional businesses, the concept of the sharing economy is a two-way street wherein users at both ends can benefit either as consumers, suppliers, or both. This new concept has introduced an alternative platform for consumers, widely known as peer-to-peer marketplace, in which participants are motivated by the idea of “what’s mine is yours” (Botsman, 2010). The sharing economy has become a major phenomenon Airbnb, Uber, ZipCar, Kickstarter and many more comprise the rapidly expanding list of pioneers in the world of the sharing economy.
What do guests value most in Airbnb accommodations? An application of the hedonic pricing approach Multiple photos, kitchen access, laundry, and friendly hosts are all listing properties that attract views and reservations.
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