The Shared Economy in the Czech Republic in 2017 and Resulting Problems in Short-Term Housing Rentals

Petr Makovský ()
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Petr Makovský: Czech Technical University in Prague, The Masaryk Institute of Advanced Studies

ACTA VSFS, 2017, vol. 11, issue 2, 144-159

Abstract: In the article we present a pilot study about most prominent problem of the shared economy – the increase in short-term housing rentals (through the Airbnb platform) and its impact on original accommodation services. We observe many advantages and disadvantages resulting from applications of shared economy. Traditional producers are afraid of the new “online” non-regulated competition. Many others highlight the positive economic effects such as the elimination of transaction costs and the appearance of a new economic sector (in contrast with the negative effects of the contemporary crises). We empirically tested the relationship between traditional producers and new online shared accommodation producers (Airbnb). Moreover we provide an analysis of the traditional accommodation services producers within the segments. These segments are Guesthouses, Hotel*, Hotel**, Hotel*** and “Prague stayed overnight.” We verified the enormous growth of short-term housing rentals (the most prominent shared economy topic). Nowadays, additional problems are appearing, for example Uber taxi services in competition with original taxi providers.

Keywords: short-term rentals; regulation; transaction costs; Airbnb (search for similar items in EconPapers)
JEL-codes: H26 O35 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:prf:journl:v:11:y:2017:i:2:p:144-159

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