Peer to Peer Economics

1.5 Credits · Level: Graduate

Americans have witnessed a dramatic increase of interest, investment and participation in the “shared economy.” From transportation, to housing, to financial services, the rise of businesses and online platforms to facilitate peer-to-peer exchange is significant. In terms of supply, the market is no longer comprised of just marginalized startups; the shared economy includes major players like BMW and AVIS. In terms of demand, collaborative consumption has moved beyond early adopters to millions of participants per day. The significance of this economy is not purely driven by consumption patterns. Rather the movement is being fueled by the interest in the commons, an emerging type of civilization and economic system. The new economy relies upon the three major sectors of society – the state, market and civil society – but with different roles and in a revitalized equilibrium. It allows for the disintermediation of big business and empowers marginalized groups to be important constituents and stakeholders in the new economy. As this emerging concept transforms financial transactions, community trust and government regulation, the class will explore the key aspects of peer-to-peer economies. The course will engage students in understanding the core principles of the shared economy including, but not limited to, business models, regulations, marketing, distribution along with customer acquisition and retention. The P2P models will include US and international based organizations and review the financial and social impact the entities are having in their respective communities.