The Welfare Effects of Peer Entry: The Case of Airbnb and the Accommodation Industry
研究了Airbnb带来的同行供给对住宿业福利的影响，发现福利收益集中在酒店容量受限的特定地点和时间，因为同行房东能灵活响应市场条件、扩大供给并压低酒店价格。
We study the welfare effects of enabling peer supply through Airbnb in the accommodation industry. We present a model of competition between flexible and dedicated sellers (peer hosts and hotels) who provide differentiated products. We estimate this model using data from major US cities and quantify the welfare effects of Airbnb on travelers, hosts, and hotels. The welfare gains are concentrated in specific locations (New York) and times (New Year’s Eve) when hotel capacity is constrained. This occurs because peer hosts are responsive to market conditions, expand supply as hotels fill up, and keep hotel prices down as a result.