The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel Industry

@article{Zervas2013TheRO,
  title={The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel Industry},
  author={Georgios Zervas and Davide Proserpio and John W. Byers},
  journal={Journal of Marketing Research},
  year={2013},
  volume={54},
  pages={687 - 705}
}
Peer-to-peer markets, collectively known as the sharing economy, have emerged as alternative suppliers of goods and services traditionally provided by long-established industries. The authors explore the economic impact of the sharing economy on incumbent firms by studying the case of Airbnb, a prominent platform for short-term accommodations. They analyze Airbnb's entry into the state of Texas and quantify its impact on the Texas hotel industry over the subsequent decade. In Austin, where… 
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