'Sharing economy' reshapes markets, as complaints rise
With Internet-based apps and services like Uber, Airbnb and others, you make money, and the consumer saves. The sharing economy "can improve consumer welfare by offering new innovations, more choices, more service differentiation, better prices and higher quality services," says a study by George Mason University economists. Researcher Christopher Koopman, an author of the George Mason report, said the sharing economy "allows people to take idle capital and turn them into revenue sources." "People are taking spare bedroom, cars, tools they are not using and becoming their own entrepreneurs." There is no official definition of the sharing economy. The research firm PwC estimates that five sharing economy segments -- finance, online staffing, accommodation, car sharing and music or video streaming -- could be worth $335 billion by 2025, up from just $15 billion today.
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