Motives for participation in the sharing economy - Evidence from Lithuania

Abstract

Information and communication technologies enable the emergence of a new phenomenon called the "sharing economy". An increasing number of articles in the media as well as debates about the positive and negative aspects of the sharing economy show a growing interest in the subject. The paper aims to review the different approaches to the definition of the sharing economy and to present the authors' views on the concept. The reviewed literature reveals the main drivers for participating in the sharing economy. A survey was conducted to learn more about the motives of Lithuanian people participating in this concept. The survey reveals the following leading factors of using the sharing economy platforms: an easy way to make extra money; supporting individuals and/or small/independent companies; meeting new people and having an interesting experience/doing something most people haven't tried yet. The survey also reveals that most of the respondents prefer to own things rather than share them. Despite the widespread popularity of the sharing economy platforms in the world, this phenomenon is in its infancy in Lithuania.