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Related Concept Videos

Social Exchange Theory01:26

Social Exchange Theory

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As formulated by John Thibaut and Harold Kelley, Social Exchange Theory explains human relationships as economic-like exchanges that maximize rewards and minimize costs. This theory suggests that individuals engage in relationships to gain benefits and reduce burdens, similar to economic transactions. It has been widely applied to various types of relationships, including romantic, professional, and social interactions.Rewards and Costs in RelationshipsRelationship rewards include emotional...
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We have discussed why we form relationships, what attracts us to others, and different types of love. But what determines whether we are satisfied with and stay in a relationship? One theory that provides an explanation is social exchange theory. According to social exchange theory, we act as naïve economists in keeping a tally of the ratio of costs and benefits of forming and maintaining a relationship with others (Rusbult & Van Lange, 2003).
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Equity theory explains how our sense of fairness influences the dynamics of close relationships. Rooted in social psychology, the theory posits that individuals evaluate fairness by comparing the ratio of their contributions to the rewards they receive. Relationship satisfaction is highest when these ratios are perceived as balanced between partners, promoting mutual reciprocity and a sense of justice.Equity vs. Equality in RelationshipsEquity is distinct from equality. Fairness does not...
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Social traps are negative situations where people get caught in a direction or relationship that later proves to be unpleasant, with no easy way to back out of or avoid. The concept was orignally introduced by John Platt who applied psychology to Garrett Hardin's "Tragedy of the Commons", where in New England herd owners could let their cattle graze in the common ground. This situation seems like a good idea, but an individual could have an advantage. If they owned...
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Evaluating the Effect of Roadside Parking on a Dual-Direction Urban Street
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Research directions for sharing economy issues.

Robert J Kauffman1,2, Maurizio Naldi3

  • 1Copehagen School of Business, Copenhagen, Denmark.

Electronic Commerce Research and Applications
|May 5, 2020
PubMed
Summary

The sharing economy offers innovative ways to reduce waste and boost efficiency through new business models and technology. Future research should focus on improving algorithms, sustainability, and trust systems for broader adoption.

Keywords:
Business modelsEconomic theoryRegulationResearch commentaryResearch directionsSharing economySustainabilityTechnology platforms

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Area of Science:

  • Business and Economics
  • Technology and Innovation
  • Sustainability Studies

Background:

  • The sharing economy presents a paradigm shift in product and service delivery.
  • It emphasizes waste reduction, efficiency gains, and decentralized change.
  • Current platforms, business models, and regulatory frameworks shape its landscape.

Purpose of the Study:

  • To survey the current state of the sharing economy.
  • To identify and propose key directions for future research.
  • To provide a comprehensive overview of enabling technologies and challenges.

Main Methods:

  • Literature review and synthesis of existing research on the sharing economy.
  • Analysis of current industries, products, services, and platforms.
  • Identification of business models and regulatory issues.

Main Results:

  • The sharing economy is enabled by technology platforms and driven by various business models.
  • Regulatory issues present significant challenges to its expansion.
  • Existing research covers a limited scope of geographical areas and services.

Conclusions:

  • Future research should prioritize developing more efficient algorithms.
  • Incorporating ecological and prosocial objectives is crucial.
  • Expanding research scope and enhancing reputation systems are vital for growth.