The Dynamics of Asset Sharing and Private Use

dc.contributor.author Weber, Thomas
dc.date.accessioned 2017-12-28T02:13:55Z
dc.date.available 2017-12-28T02:13:55Z
dc.date.issued 2018-01-03
dc.description.abstract The collaborative consumption of an asset, such as a car, an appliance, or a power tool, tends to degrade it faster than when it is kept for purely personal use. This paper examines the rational dynamic decision of when to share an asset and when to use it only privately. An optimal policy trades off additional degradation and resulting lifetime reduction against the additional revenue from sharing. Solving the underlying continuous-time optimal control problem, we characterize three possible regimes: personal consumption, full sharing, and partial sharing. Collaborative consumption may be optimal only at the beginning of the asset's lifetime; the optimal time to switch from sharing to pure private consumption is obtained in closed form.
dc.format.extent 7 pages
dc.identifier.doi 10.24251/HICSS.2018.649
dc.identifier.isbn 978-0-9981331-1-9
dc.identifier.uri http://hdl.handle.net/10125/50538
dc.language.iso eng
dc.relation.ispartof Proceedings of the 51st Hawaii International Conference on System Sciences
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject Strategy, Information, Technology, Economics, and Society (SITES)
dc.subject Collaborative Consumption, Degradation Dynamics, Durability, Product Lifetime, Sharing Economy
dc.title The Dynamics of Asset Sharing and Private Use
dc.type Conference Paper
dc.type.dcmi Text
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