Asia-Pac J Reg Sci https://doi.org/10.1007/s41685-018-0088-y ARTICLE Feng Deng Received: 18 January 2018 / Accepted: 29 May 2018 © The Japan Section of the Regional Science Association International 2018 Abstract The sharing economy is a recent urban phenomenon. This paper explores its impact on urban property rights as well as their long-term interaction. The start- ing point of the analysis is the spatial matching condition, which requires the owner of a durable good to be spatially close to the renter to execute a deal. More gener- ally, it asks for owners to live close to renters. The short-term impact is that the segregation effect of private property rights in the city is ameliorated. In the long term, an active P2P market will become an important urban amenity, which might be capitalized into property value. In this sense, it contributes to the agglomeration economy that reinforces private property rights at macro level. Keywords Sharing economy · Peer-to-peer market · Durable good · Property rights · Segregation JEL Classification D23 · L86 · R1 1 Introduction In recent years the term “sharing economy” has occupied newspaper headlines in many countries, especially in their major cities. Typically, it refers to markets (also called peer-to-peer market or P2P market) where strangers
Asia-Pacific Journal of Regional Science – Springer Journals
Published: Jun 5, 2018
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