The sharing economy is an economic model in which individuals can borrow or lend products owned by someone else. The sharing economy model has the greatest potential for expansion and use when the market price is high or when the same good is not continuously exploited by the owner.
People have been sharing and lending objects of their property for thousands of years, but with the advent of the Internet it has become much easier for supply and demand to meet, between those looking for a product at a discounted price and those willing to give up and lend that same product.
The “sharing economy” allows individuals to earn from underused assets. In this way, physical assets are shared as if they were services. For example, a car owner can let someone rent out their vehicle when they are not using it, or a home owner can rent it out while they are on vacation.
