An Research On Transaction Price Of Online Short Rent Market From The Perspective Of Trust

In recent years,with the rapid development of information technology such as Internet of things,big data,cloud computing and the improvement of people's consumption concept,a new business model named sharing economy has emerged and been developed by leaps and bounds.Among them,housing sharing is one of the most prominent areas.Especially in China,a series of online short-rent platforms such as MaYi,XiaoZhu and Tujia sprang up and quickly occupied the market.As a branch of shared economy,customers can only evaluate the landlord's trust through the information displayed on the platform and decide whether to book the house because of serious information asymmetry between trading parties.For landlords,their income potential depends largely on how much demand they can attract at a certain price,and trust is crucial when such demand translates into actual booking requests,because customers are willing to book only when they believe that the supply is worth consuming.Therefore,this dissertation studies the impact of trust on transaction price in online short-rent market,and the mechanism of trust affecting transaction price.Firstly,according to the transaction characteristics of asymmetric information between buyers and sellers in online short-rent market,this dissertation establishes a dynamic game model of imperfect information based on trust,and theoretically proves that trust can bring premium to sellers.Secondly,the dissertation also carries out an example verification.According to the trust theory,in the online short-rent market,the customer's trust to the house mainly establishes perception from three dimensions: benevolence,ability,integrity.Therefore,from these three perspectives,the dissertation chooses XiaoZhu short-rent platform the leading online short-rent platform in China,as the object of study,and chooses the appropriateand indicators describe benevolence,ability,integrity trustworthiness of customers to listing houses.The hedonic price model is used to validate the results.The results show that the trust of customers to listing houses can indeed generate premium,and it is realized through ability and integrity trustworthiness.However,the benevolence trustworthiness of customers to landlords doesn't show same effect.The results of this study have certain significance for the theoretical development of shared economy and the development of online short-rent market.At present,the theoretical research of sharing economy has been lagging behind the development of practice.The study of online short-rent market is helpful for people to understand the characteristics of shared economy,especially trust in the field of housing sharing.In addition,according to the conclusion of this study,online short-rent platform and landlords can take measures to improve customer's perceived benevolence,ability,integrity trustworthiness,so as to increase the price which customers are willing to pay,and thus get more economic benefits,and customers can also get a higher level of service.