Logical Limits To Sharing Economy?
Posted: Wed Jun 08, 2016 3:36 pm
You and your significant other both had a long day at work and neither of you feels like cooking anything. The thought of eating frozen dinners really doesn't sound very appealing or healthy but the only restaurants that are still open are fast food restaurants. You both have a rule that you can only eat at KFC once a year... and it's only been 3 months!
What if there was an app that gave you the opportunity to eat at a random person's home in your area? The app would list what dishes were available within a certain distance from your home. Rather than prices being listed... you could simply enter your willingness to pay (WTP) for the dish that you were most interested in. The seller would receive a notification and enter how much they were willing to accept (WTA). If your WTP was greater than or equal to their WTA... then voila! The money would be exchanged and you and your significant other would drive over and eat at a random person's home! Yum!??
Of course there would be a rating system for both buyers and sellers.
A quick google search reveals that this isn't a new idea *gasp*... Why No Dining App Is the ‘Airbnb of Food’ (Yet). According to the article, the problem with the previous attempts was inadequate demand? It looks like with the previous and/or current attempts... they used the one-price-fits-all (OPFA) approach rather than the approach that I described (linvoid?).
Personally, I think it's pretty stupid to try and use the OPFA approach because... if your WTP was high enough... I'd certainly wake up at 2 in the morning and get started preparing my world famous BBQ. Ok, my BBQ isn't world famous (yet). Uh, in order to avoid being constantly woken up by notifications... the app would give the following option... "Don't notify me for anything less than $ ________"
Clearly lots of you have no problem driving in a random person's car (uber) and staying in a random person's home (airbnb)... but what about eating at a random person's home? Are there logical limits to the sharing economy? Or is the sky (or your imagination) the limit?
I'm sure that most of you have heard some concern that smarter robots are going to take all our jobs. But I'm pretty sure that the real problem isn't smarter robots! The real problem is that so many of our demands are latent. The solution is to clarify demand. Once demand is clarified... then there will never be a shortage of opportunities (see my signature for another example).
What if there was an app that gave you the opportunity to eat at a random person's home in your area? The app would list what dishes were available within a certain distance from your home. Rather than prices being listed... you could simply enter your willingness to pay (WTP) for the dish that you were most interested in. The seller would receive a notification and enter how much they were willing to accept (WTA). If your WTP was greater than or equal to their WTA... then voila! The money would be exchanged and you and your significant other would drive over and eat at a random person's home! Yum!??
Of course there would be a rating system for both buyers and sellers.
A quick google search reveals that this isn't a new idea *gasp*... Why No Dining App Is the ‘Airbnb of Food’ (Yet). According to the article, the problem with the previous attempts was inadequate demand? It looks like with the previous and/or current attempts... they used the one-price-fits-all (OPFA) approach rather than the approach that I described (linvoid?).
Personally, I think it's pretty stupid to try and use the OPFA approach because... if your WTP was high enough... I'd certainly wake up at 2 in the morning and get started preparing my world famous BBQ. Ok, my BBQ isn't world famous (yet). Uh, in order to avoid being constantly woken up by notifications... the app would give the following option... "Don't notify me for anything less than $ ________"
Clearly lots of you have no problem driving in a random person's car (uber) and staying in a random person's home (airbnb)... but what about eating at a random person's home? Are there logical limits to the sharing economy? Or is the sky (or your imagination) the limit?
I'm sure that most of you have heard some concern that smarter robots are going to take all our jobs. But I'm pretty sure that the real problem isn't smarter robots! The real problem is that so many of our demands are latent. The solution is to clarify demand. Once demand is clarified... then there will never be a shortage of opportunities (see my signature for another example).