IDEAS home Printed from https://ideas.repec.org/a/gam/jecomi/v11y2023i12p298-d1298163.html
   My bibliography  Save this article

Development of Regulatory Strategies in the Sharing Economy: The Application of Game Theory

Author

Listed:
  • Anna Y. Veretennikova

    (Institute of Economics, Ural Branch of Russian Academy of Science, Yekaterinburg 620014, Russia)

  • Daria A. Selezneva

    (Institute of Economics, Ural Branch of Russian Academy of Science, Yekaterinburg 620014, Russia)

Abstract

Regulating the sharing economy is one of the most important aspects in the development of a business model that has developed rapidly due to the widespread adoption of digital technologies and is closely linked to the fast pace of institutional changes. The present study aims to develop strategies for regulating the sharing economy through the application of game theory. The authors identify common cooperative and non-cooperative strategies in the interaction of two participants: the state and the company. The matrix of strategies is based on the results of the analysis, which considers the interaction benefits, costs, and the positive and negative effects of this process. These strategies are exemplified in scenarios of interaction between the state and the sharing economy company in relation to three possible problems: environmental pollution, parking deficiency, and budget deficit. Furthermore, the study presents a comprehensive payoff matrix and provides a description of various sustainable and long-term scenarios. It also highlights the key parameters that should be taken into account when selecting a behavioral strategy for economic agents. In addition, the study establishes that supporting industries and projects of the sharing economy, as well as creating conditions or attracting investments, increasing public trust in government and business, and involving various social groups in resolving social problems are essential elements in the harmonious development of the sharing economy. These elements contribute to its potential to raise living standards. The practical significance of this study lies in the possibility of applying its results in the implementation of social and ecological objectives through the advancement of sharing economy initiatives.

Suggested Citation

  • Anna Y. Veretennikova & Daria A. Selezneva, 2023. "Development of Regulatory Strategies in the Sharing Economy: The Application of Game Theory," Economies, MDPI, vol. 11(12), pages 1-18, December.
    • Handle: RePEc:gam:jecomi:v:11:y:2023:i:12:p:298-:d:1298163
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7099/11/12/298/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7099/11/12/298/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Russell Belk, 2007. "Why Not Share Rather Than Own?," The ANNALS of the American Academy of Political and Social Science, , vol. 611(1), pages 126-140, May.
    2. Sundararajan, Arun, 2016. "The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262034573, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mariam Mohsin & Fizzah Khalid Butt, 2022. "Digitalisation and Disruption— Consequences for Business and Theory," PIDE-Working Papers 2022:14, Pakistan Institute of Development Economics.
    2. Jeff Muldoon & Eric W. Liguori & Shelby Solomon & Josh Bendickson, 2023. "Technological Innovation and the expansion of Entrepreneurship Ecosystems," Review of Managerial Science, Springer, vol. 17(5), pages 1789-1808, July.
    3. Belezas, Fernando & Daniel, Ana Dias, 2023. "Innovation in the sharing economy: A systematic literature review and research framework," Technovation, Elsevier, vol. 122(C).
    4. Khalek, Sk Abu & Chakraborty, Anirban, 2023. "Access or collaboration? A typology of sharing economy," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).
    5. Andrey SHEVCHUK & Denis STREBKOV, 2023. "Digital platforms and the changing freelance workforce in the Russian Federation: A ten‐year perspective," International Labour Review, International Labour Organization, vol. 162(1), pages 1-22, March.
    6. Pia Szichta & Ingela Tietze, 2020. "Sharing Economy in der Elektrizitätswirtschaft: Treiber und Hemmnisse [Title sharing economy in the electricity sector: drivers and barriers]," Sustainability Nexus Forum, Springer, vol. 28(3), pages 109-125, December.
    7. Lutz, Christoph & Newlands, Gemma, 2018. "Consumer segmentation within the sharing economy: The case of Airbnb," Journal of Business Research, Elsevier, vol. 88(C), pages 187-196.
    8. Zhao, Taiyang & Lu, Yan & Lynette Wang, Valerie & Wu, Banggang & Chen, Zhi & Song, Wei & Zhou, Liying, 2023. "Shared but unhappy? Detrimental effects of using shared products on psychological ownership and consumer happiness," Journal of Business Research, Elsevier, vol. 169(C).
    9. Maik Hesse & Timm Teubner & Marc T. P. Adam, 2022. "In Stars We Trust – A Note on Reputation Portability Between Digital Platforms," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 64(3), pages 349-358, June.
    10. Vincenzo Vignieri, 2021. "Crowdsourcing as a mode of open innovation: Exploring drivers of success of a multisided platform through system dynamics modelling," Systems Research and Behavioral Science, Wiley Blackwell, vol. 38(1), pages 108-124, January.
    11. Agam Gupta & Biswatosh Saha & Parthasarathi Banerjee, 2018. "Pricing decisions of car aggregation platforms in sharing economy: a developing economy perspective," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(5), pages 341-355, October.
    12. Julienne Brabet & Corinne Vercher- Chaptal & Lucy Taska, 2020. "From oligopolistic digital platforms to Open/Cooperative Ones?," Post-Print hal-03201454, HAL.
    13. Geissinger, Andrea & Laurell, Christofer & Sandström, Christian, 2020. "Digital Disruption beyond Uber and Airbnb—Tracking the long tail of the sharing economy," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    14. Cristina Alaimo & Jannis Kallinikos, 2017. "Computing the everyday: social media as data platforms," LSE Research Online Documents on Economics 81432, London School of Economics and Political Science, LSE Library.
    15. Möhlmann, Mareike, 2021. "Unjustified trust beliefs: Trust conflation on sharing economy platforms," Research Policy, Elsevier, vol. 50(3).
    16. Francisco Javier Blanco-Encomienda & Elena Rosillo-Díaz & Juan Francisco Muñoz-Rosas, 2018. "Importance of Quality Control Implementation in the Production Process of a Company," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 4, ejes_v4_i.
    17. Wei Zhou & Zidong Wang, 2020. "Competing for Search Traffic in Query Markets: Entry Strategy, Platform Design, and Entrepreneurship," Working Papers 20-12, NET Institute.
    18. Venkateswaran, Viswanathan & S Kumar, Deepak & Gupta, Deepak, 2021. "‘To Trust or Not’: Impact of camouflage strategies on trust in the sharing economy," Journal of Business Research, Elsevier, vol. 136(C), pages 110-126.
    19. Lindblom, Arto & Lindblom, Taru & Wechtler, Heidi, 2018. "Collaborative consumption as C2C trading: Analyzing the effects of materialism and price consciousness," Journal of Retailing and Consumer Services, Elsevier, vol. 44(C), pages 244-252.
    20. Rubing Li & Arun Sundararajan, 2024. "The Rise of Recommerce: Ownership and Sustainability with Overlapping Generations," Papers 2405.09023, arXiv.org.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jecomi:v:11:y:2023:i:12:p:298-:d:1298163. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.