nep-pay New Economics Papers
on Payment Systems and Financial Technology
Issue of 2018‒07‒30
twenty-two papers chosen by
Bernardo Bátiz-Lazo
Bangor University

  1. Bitcoin: Future transaction currency? By HOSAIN, MD SAJJAD
  2. The Digital World: II – Alternatives to the Bitcoin Blockchain? By Dominique Guegan
  3. Mobile Phones and Financial Access: Evidence from the Finscope Surveys of Selected Asian Countries By Lay, Sok Heng
  4. Strategic alliances between banks and fintechs for digital innovation: Motives to collaborate and types of interaction By Klus, Milan F.; Lohwasser, Todor S.; Holotiuk, Friedrich; Moormann, Jürgen
  5. End of Middle-Classes? Social Inequalities in Digital Age By Bögenhold, Dieter; Permana, Muhammad Yorga
  6. ICOs success drivers: a textual and statistical analysis By Paola Cerchiello; Anca Mirela Toma
  7. Payments, credit and asset prices By Monika Piazzesi; Martin Schneider
  8. Information and communications technologies for the inclusion and empowerment of persons with disabilities in Latin America and the Caribbean By Ullmann, Heidi; Jones, Francis; Williams, Robert Crane; Williams, Deirdre
  9. Digitization, Computerization, Networking, Automation, and the Future of Jobs in Japan By IWAMOTO Koichi; TANOUE Yuta
  10. Managing Competition on a Two-Sided Platform By Paul Belleflamme; Martin Peitz
  11. The European Union’s Proposed Digital Services Tax: A De Facto Tariff By Gary Clyde Hufbauer; Zhiyao (Lucy) Lu
  12. Potential of financial technology in East and North-East Asia By Dorothea Lazaro; Nobuko Kajiura
  13. Are Bitcoin Bubbles Predictable? Combining a Generalized Metcalfe's Law and the LPPLS Model By Spencer Wheatley; Didier Sornette; Tobias Huber; Max Reppen; Robert N. Gantner
  14. "Bitcoin Technical Trading with Articial Neural Network" By Masafumi Nakano; Akihiko Takahashi; Soichiro Takahashi
  15. Dissection of Bitcoin's Multiscale Bubble History By J-C Gerlach; Guilherme Demos; Didier Sornette
  16. Making sense of a crank case: monetary diversity in Argentina (1999–2003) By Gómez, Georgina M.; Dini, Paolo
  17. Les rôles des acteurs dans la formation et le développement du crowdlending : analyse des liens et échanges sociaux By Nathalie Duran
  18. Customers? behavior towards E-commerce in Bangladesh: An Empirical Study on Some Selected B2C E-commerce Sites By Sanjida Farhana Oishe
  19. Human development thresholds for inclusive mobile banking in developing countries By Asongu, Simplice A; Odhiambo, Nicholas M.
  20. Airbnb in Paris : quel impact sur l’industrie hôtelière? By Ewen Gallic; Vincent Malardé
  21. Analyse comparative des discours gagnants et perdants du microcrédit : le cas des campagnes de crowdlending By Nathalie Duran; Djamchid Assadi
  22. The benefits of the collaborative economy for financially constrained consumers : the case of second-hand buy-and-sell platforms By Florence Benoît-Moreau; Eva Delacroix; Béatrice Parguel

    Abstract: Bitcoin is a digital cryptocurrency that has attracted substantial interest in recent years from the general people, profit seekers, risk takers, academic practitioners and last but not the least, from economists. Most recently, particularly, after 2015, it has succeeded to gain even more attention for increase in value and volume of exchange. The Bitcoin system maintains a global, distributed cryptographic ledger of transactions, or blockchain, through a consensus algorithm running on hardware scattered across the world. This paper basically discusses on the nature of cryptocurrency & blockchain, how it works and present status of bitcoin blockchain in different countries around the world. The various aspects this technology in detail is yet to be revealed. The authors hope that this simple, basic and narrative paper will be helpful for those seeking the basic references regarding this newest issue.
    Keywords: Bitcoin, Blockchain, Cryptocurrency, Internet, Trading, Mining, Block, Transaction.
    JEL: Z00
    Date: 2018–06–25
  2. By: Dominique Guegan (UP1 - Université Panthéon-Sorbonne, CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne, Labex ReFi - UP1 - Université Panthéon-Sorbonne, IPAG - IPAG Business School - Ipag, University of Ca’ Foscari [Venice, Italy])
    Abstract: In a previous paper (The Digital World: I - Bitcoin: from history to real live, Guégan, 2018), we explain some limits and interests of the Bitcoin system and why the central bankers and regulators need to take some decision on its existence. In this article, we develop some alternatives to the Bitcoin blockchain which are considered by the banking system and industries.
    Keywords: Blockchain,Bitcoin
    Date: 2018–06
  3. By: Lay, Sok Heng
    Abstract: This paper assesses the impact of mobile phones on the use of formal banking services in some Asian countries. Using the FinScope Surveys of Cambodia, Laos, Myanmar, Nepal, and Thailand conducted between 2012 and 2015, the paper applies a probit model to both cross-sectional and pooled data set. The results consistently suggest that having a mobile phone increases the probability of having access to financial services. The findings also highlight the importance of education which increases the likelihood of being formally banked, while distance or time to banking infrastructure is likely to remain a significant barrier for people to access to financial services for all countries. Other factors associated with the likelihood of changes in the levels of access to financial services vary widely from country to country.
    Keywords: financial access, probit model, mobile financial service, financial institutions
    JEL: C35 G20 O16 O30
    Date: 2018–05–30
  4. By: Klus, Milan F.; Lohwasser, Todor S.; Holotiuk, Friedrich; Moormann, Jürgen
    Abstract: In times of digitalization, firms increasingly need to form alliances due to the higher complexity and greater dynamics of markets. Digital innovation poses challenges for established institutions (e.g., banks) in adapting to changing rules that are set by new competitors and higher customer expectations. However, young firms providing technical solutions for the financial services industry (fintechs) also face difficulties, such as meeting regulatory requirements. Due to the shortcomings of both banks and fintechs, firms in the financial services industry are increasingly forming alliances. We conducted interviews to examine the motivations of both banks and fintechs to join forces. The resulting motives are categorized as matching, complementary, and neutral. The alliances in our sample can be differentiated into financial investments and customer-service provider relationships, with the second category being most common. However, our findings reveal that the occurrence of particular motives is not linked to certain types of alliances. Building on these findings, we develop a motivation framework and derive practical implications.
    JEL: G21 G23 G34 L14 L24 M13
    Date: 2018
  5. By: Bögenhold, Dieter; Permana, Muhammad Yorga
    Abstract: The paper is about a socioeconomics and sociology of middle classes in a theoretical discussion and empirically focussing at “middle class” segments of different European societies for the time period between 2003 and 2014. The argumentation is strongly embedded to Schumpeterian thought of evolutionary economics but it is tried to link discussion about “creative destruction” to digitalization and the evolution of stratified societies in Europe on international comparison. The paper attempts to question assumptions of growing inequality theoretically and empirically by referring to Collins’ thesis of an increased de-middledization. We argue that the ability of ICT innovations (i.e. digitalization) to perform specialized, routine, and predicted tasks better than human allows them to supress middle skilled labor, affect to the polarization of jobs, and finally lead to de-middledization.
    Keywords: society, digital age, middle-class, European societies, creative destruction,
    JEL: J11 O1 O10 Z13
    Date: 2018–06–07
  6. By: Paola Cerchiello (Department of Economics and Management, University of Pavia); Anca Mirela Toma (Department of Economics and Management, University of Pavia)
    Abstract: Initial coin offering (aka ICOs) represents one of the several by-product of the cryptocurrencies world. New generation start-up and existing businesses in order to avoid rigid and long money raising protocols imposed by classical channels like banks or venture capitalists, offer the inner value of their business by selling tokens, i.e. units of the chosen cryptocurrency, like a regular firm would do with and IPO. The investors of course hope in a value increasing of the tokens in the near future, provided a solid and valid business idea typically described by the ICO issuers in a white paper, both a descriptive and technical report of the proposed business. However, fraudulent activities perpetrated by unscrupulous start-up happen quite often and it would be crucial to highlight in advance clear signs of illegal money raising. In this paper, we employ a statistical approach to detect which characteristics of an ICO are significantly related to fraudulent behaviours. We leverage a number of differen t variables like: entrepreneurial skills, number of people chatting on Telegram on the given ICO and relative sentiment, type of business, country issuing, token pre-sale price. Through logistic regression, classifcation tree we are able to shed a light on the riskiest ICOs.
    Keywords: ICOs, cryptocurrencies, fundraising, classification models, text analysis
    Date: 2018–07
  7. By: Monika Piazzesi; Martin Schneider
    Abstract: This paper studies a modern monetary economy: trade in both goods and securities relies on money provided by intermediaries. While money is valued for its liquidity, its creation requires costly leverage. In ation, security prices and the transmission of monetary policy then depend on the institutional details of the payment system. The price of a security is higher if it helps back inside money, and lower if more inside money is used to trade it. In ation can be low in security market busts if bank portfolios suffer, but also in booms if trading absorbs more money. The government has multiple policy tools: in addition to the return on outside money, it affects the mix of securities used to back inside money.
    Keywords: payments, monetary policy, liquidity trap, liquidity, asset prices, collateral premium, leverage, leverage costs, convenience yield, banking, scarce reserves, abundant reserves
    JEL: E00 E13 E41 E42 E43 E44 E51 E52 E58 G1 G12 G21
    Date: 2018–07
  8. By: Ullmann, Heidi; Jones, Francis; Williams, Robert Crane; Williams, Deirdre
    Abstract: This paper examines the ways in which Information and Communications Technologies (ICT) can promote greater inclusion of persons with disabilities. It characterizes the patterns of ICT use among persons with disabilities in Latin America and the Caribbean and proposes recommendations and strategies to expand access to and use of ICT among persons with disabilities in the region to harness the potential of these tools to promote greater inclusion. This investigation is based on mixed methods that include the analysis of census data, complemented by interviews, bibliographic review and online searches of legislation, policies and programmes to promote ICT use among persons with disabilities.
    Date: 2018–07–16
  9. By: IWAMOTO Koichi; TANOUE Yuta
    Abstract: In the seminal study, Frey & Osborne reported that 47% of the total employment in the United States is at risk of computerization. Many studies estimate how automation of work influences employment. In Japan, however, there are few studies which investigate the effect of automation and networking on future employment. It is important to discuss this based on facts and evidence. This paper describes the present situation in Japan on the impact of artificial intelligence (AI) on employment, utilizing a survey study. We first visited Japanese companies and conducted a field survey on the new technologies being introduced. Following this, in August 2017, we conducted a survey study of about 10,000 companies. This paper discusses the output of the survey study.
    Date: 2018–07
  10. By: Paul Belleflamme; Martin Peitz
    Abstract: On many two-sided platforms, users on one side not only care about user participation and usage levels on the other side, but they also care about participation and usage of fellow users on the same side. Most prominent is the degree of seller competition on a platform catering to buyers and sellers. In this paper, we address how seller competition affects platform pricing, product variety, and the number of platforms that carry trade.
    Keywords: Network effects, two-sided markets, platform competition, intermediation, pricing, imperfect competition
    JEL: D43 L13 L86
    Date: 2018–07
  11. By: Gary Clyde Hufbauer (Peterson Institute for International Economics); Zhiyao (Lucy) Lu (Peterson Institute for International Economics)
    Abstract: Over the past three years, the European Union has sought various ways to curb tax avoidance practices and collect more revenue from an array of US multinational corporations (MNCs), triggering disputes with some of the giants in the field. Now the European Commission is looking to tax MNCs’ digital earnings. It has proposed a digital services tax (DST), which would tax the part of a digital firm’s revenues attributed to European member states, and a digital profits tax, which would tax the slice of corporate profits derived in member states. These new tax proposals arise in a general European atmosphere of distrust towards highly successful US firms, exemplified by attacks on US digital firms over privacy issues and concerns that tech giants may be defying EU competition policy standards. Many US MNCs in the digital industry, such as Google and Facebook, may be subject to the proposed taxes. Hufbauer and Lu argue that the DST has the characteristics of a prohibited tariff under the rules of the World Trade Organization. They suggest several countermeasures the United States could pursue if the European Union moves forward with implementing the DST.
    Date: 2018–06
  12. By: Dorothea Lazaro (Subregional Office for East and North-East Asia, United Nations Economic and Social Commission for Asia and the Pacific); Nobuko Kajiura (Subregional Office for East and North-East Asia, United Nations Economic and Social Commission for Asia and the Pacific)
    Abstract: FinTech can be broadly defined as the application of information technology (IT) to the financial sector. Its importance is crucial due to the role of the financial sector in channelling savings towards sustainable investments, as it can make them more efficient by circumventing inefficient credit allocation systems that tend to favour State-owned enterprises over innovative MSMEs. Indeed, the rise of FinTech has permeated several aspects of economic dimensions, promoting what is known as the alternative economy: an economic structure that is separate from, and operates largely independently of, the traditional economy. Among many examples of the alternative economy, two well-known global ones are Uber (transport services) and Airbnb (accommodation services).
    Date: 2018
  13. By: Spencer Wheatley (ETH Zurich); Didier Sornette (ETH Zurich and Swiss Finance Institute); Tobias Huber (ETH Zurich); Max Reppen (ETH Zurich); Robert N. Gantner (D ONE Solutions AG)
    Abstract: We develop a strong diagnostic for bubbles and crashes in bitcoin, by analyzing the coincidence (and its absence) of fundamental and technical indicators. Using a generalized Metcalfe’s law based on network properties, a fundamental value is quantified and shown to be heavily exceeded, on at least four occasions, by bubbles that grow and burst. In these bubbles, we detect a universal super-exponential unsustainable growth. We model this universal pattern with the Log-Periodic Power Law Singularity (LPPLS) model, which parsimoniously captures diverse positive feedback phenomena, such as herding and imitation. The LPPLS model is shown to provide an ex-ante warning of market instabilities, quantifying a high crash hazard and probabilistic bracket of the crash time consistent with the actual corrections; although, as always, the precise time and trigger (which straw breaks the camel’s back) being exogenous and unpredictable. Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in the price of bitcoin, suggesting many months of volatile sideways bitcoin prices ahead (from the time of writing, March 2018).
    Keywords: Bitcoin, crypto-currencies, bubble, prediction, Metcalfe law, log-periodic power law singularity, LPPLS, Johansen-Ledoit-Sornette
    JEL: C53 E47 G01 G17
    Date: 2018–03
  14. By: Masafumi Nakano (Graduate School of Economics, Faculty of Economics, The University of Tokyo); Akihiko Takahashi (Faculty of Economics, The University of Tokyo); Soichiro Takahashi (Graduate School of Economics, Faculty of Economics, The University of Tokyo)
    Abstract: This paper explores Bitcoin intraday technical trading based on artificial neural networks for the return prediction. In particular, our deep learning method successfully discovers trading signals through a seven layered neural network structure for given input data of technical indicators, which are calculated by the past time-series data over every 15 minutes. Under feasible settings of execution costs, the numerical experiments demonstrate that our approach significantly improves the performance of a buy-and-hold strategy. Especially, our model performs well for a challenging period from December 2017 to January 2018, during which Bitcoin suffers from substantial minus returns. Furthermore, various sensitivity analysis is implemented for the change of the number of layers, activation functions, input data and output classification to confirm the robustness of our approach.
    Date: 2018–07
  15. By: J-C Gerlach (ETH Zurich); Guilherme Demos (ETH Zurich); Didier Sornette (ETH Zurich and Swiss Finance Institute)
    Abstract: We present a detailed bubble analysis of the Bitcoin to US Dollar price dynamics from January 2012 to February 2018. We introduce a robust automatic peak detection method that classifies price time series into periods of uninterrupted market growth (drawups) and regimes of uninterrupted market decrease (drawdowns). In combination with the Lagrange Regularisation Method for detecting the beginning of a new market regime, we identify 3 major peaks and 10 additional smaller peaks, that have punctuated the dynamics of Bitcoin price during the analyzed time period. We explain this classification of long and short bubbles by a number of quantitative metrics and graphs to understand the main socio-economic drivers behind the ascent of Bitcoin over this period. Then, a detailed analysis of the growing risks associated with the three long bubbles using the Log-Periodic Power Law Singularity (LPPLS) model is based on the LPPLS Confidence Indicators, defined as the fraction of qualified fits of the LPPLS model over multiple time windows. Furthermore, for various fictitious present analysis times t2, positioned in advance to bubble crashes, we employ a clustering method to group LPPLS fits over different time scales and the predicted critical times tc (the most probable time for the start of the crash ending the bubble). Each cluster is argued to provide a plausible scenario for the subsequent Bitcoin price evolution. We present these predictions for the three long bubbles and the four short bubbles that our time scale of analysis was able to resolve. Overall, our predictive scheme provides useful information to warn of an imminent crash risk.
    Keywords: Cryptocurrency, Bitcoin, k-Means Clustering, Multiscale Bubble Indicator, Log-Periodic Power Law Singularity Analysis, Forecasting, Time Series Analysis, Market Crashes
    JEL: C2 C13 C32 C53 C61 G1 G10
    Date: 2018–04
  16. By: Gómez, Georgina M.; Dini, Paolo
    Abstract: Based on empirical data, this study discusses the introduction, acceptance and circulation of two complementary currencies in Argentina that do not fit well in the main approaches to the nature of money. These two monetary circuits, provincial and community currencies, were introduced as units of account to denominate the value of debt and circulated as means of payment to overcome monetary stringency during the crisis of 1999-2003. After discussing several theories on the nature of money, we reflect on the institutional significance of currency circuits as concurrent and rather stable pairs of trade and money. We suggest that several theories of money need to be combined to account for the variety and heterogeneity of daily monetary practices in a broad spectrum of countries.
    Keywords: Ontology of money; Monetary plurality; Community currencies; Subnational currencies; Argentina
    JEL: E5 O2 Z1
    Date: 2016–09–01
  17. By: Nathalie Duran (IAE - Institut d'Administration des Entreprises - UR - Université de la Réunion, CEMOI - Centre d'Économie et de Management de l'Océan Indien - UR - Université de la Réunion)
    Abstract: Le crowdlending est une forme de financement participatif qui permet aux entreprises d'emprunter auprès de la foule par le biais d'une plateforme sur internet. Nous explorons les communautés de prêt et le rôle des acteurs par une recherche qualitative qui s'appuie sur des entretiens semi-directifs et une netnographie. Les résultats soulignent les opportunités du crowdlending sur le développement de l'économie et relèvent l'importance de la réciprocité dans cette communauté digitale de prêt qui dépasse l'aspect strictement financier. Mots clés : crowdlending, communauté de prêt, échange social, parties prenantes, marché biface. Abstract: Crowdlending is a finance process that allows individuals to lend money to businesses in a Peer to Business (P2B investor) approach on a web platform. We focus on crowdlending community. Our analysis relies on a methodology using an exploratory qualitative research joining interview and netnography as an innovative approach. The results highlight the potential of Crowdlending as complementary or even sometimes substitute of the traditional bank channel and the important role played by the community loan and the social exchange. Je remercie les évaluateurs pour leurs commentaires et conseils avisés, ainsi que Djamchid Assadi, Rédacteur invité, pour ses précieuses suggestions. Je remercie également les personnes présentes au congrès de l'ISTEC le 8 décembre 2016 qui m'ont permis d'amélirorer la communucation presentée ce jour afin de publier mes travaux dans cette revue.
    Keywords: two-sided market,stakeholders,crowdlending,loan community,social exchange
    Date: 2017
  18. By: Sanjida Farhana Oishe (Pine Solutions Limited)
    Abstract: This study aims at identifying salient attributes of e-commerce sites in Bangladesh. The study tries to assess the perception of customers about the performance of major-e-commerce sites on those attributes. Eighteen potential attributes are preliminarily selected, and after conducting a pre-test on 50 sample respondents eleven salient attributes are selected for the study.Finally 108 respondents are taken as the study sample. Mertin Fishbein?s multi-attribute attitude models adopted to measure the customers? attitude. Respondents were asked their belief and evaluation towards some B2C ecommerce sites. The benchmark of positive belief is hypothesized as 4 in a 5 point scale. The significance of the difference between observed mean of customers? belief and the predetermined benchmark is measured by left tailed Z statistic. It is found that the sample respondents believe that the performance of the B2C e-commerce sites in Bangladesh is up to the benchmark in teams of only two attributes among the eleven. The findings of this study may be used by the existing B2C e-commerce companies as well asby the future e-commerce entrepreneurs in Bangladesh to establish a quality and customer driven B2C e-commerce industry. Even the customers will be benefitting if the industry considers the findings of the study.
    Keywords: B2C e-commerce, Attitude, Belief, Evaluation
    Date: 2017–07
  19. By: Asongu, Simplice A; Odhiambo, Nicholas M.
    Keywords: Mobile banking; Quality of growth; Poverty; Inequality; Developing countries
    Date: 2018–06–15
  20. By: Ewen Gallic (Univ Rennes, CNRS, CREM - UMR 6211, F-35000 Rennes, France); Vincent Malardé (Univ Rennes, CNRS, CREM - UMR 6211, F-35000 Rennes, France)
    Abstract: In many cities around the world short-term housing platforms have become an alternative in the eyes of tourists. These new players, led by Airbnb, are disrupting the market, raising concerns from the hotel industry and public authorities. Using data from hotels and Airbnb in Paris, this paper proposes a new methodology for measuring the competitive pressure exerted by Airbnb on the hotel industry. The results indicate that an increase in the number of Airbnb hosts close to a hotel leads the hotel to reduce its price. This effect is amplified on weekend evenings.
    Keywords: peer-to-peer platforms; hotel industry ; Airbnb; competition ; spatial statistics
    JEL: D40 L81 R31
    Date: 2018–07
  21. By: Nathalie Duran (IAE - Institut d'Administration des Entreprises - UR - Université de la Réunion); Djamchid Assadi
    Abstract: Analyse comparative des discours gagnants et perdants du microcrédit : le cas des campagnes de crowdlending. « We will always need banking, but we don't need Banks anymore » Bill Gates Le crowdlending, traduit littéralement par « le prêt par la foule » est un système de prêts rémunérés qui vient diversifier les sources de financement pour les TPE/PME, mais également pour les plus grosses entreprises, telles que les groupes. Le crowdlending donne aux entreprises l'opportunité d'obtenir jusqu'à un million d'euros auprès d'une foule de particuliers (ou institutionnels) par le biais de plateformes sur internet, notamment pour certains besoins qui ne sont que très rarement couverts par les banques. Jusqu'en octobre 2014, contrairement aux grandes entreprises, les TPE et PME en France n'avaient que peu de solutions pour se financer. Un décret est alors venu mettre fin au monopole bancaire en France et a révolutionné le prêt rémunéré en permettant à chaque individu d'endosser un rôle initialement réservé aux banquiers. Le taux pour les emprunteurs est plus élevé (7,3% en moyenne pour 2017) mais la durée pour obtenir les fonds est extrêmement écourtée (une dizaine de jours en moyenne). Sa croissance, en France fut exponentielle entre 2013 et 2016. En 2016, il a permis de financer 651 projets (contre 395 en 2015) pour un montant de 83 M€, soit 2,6 fois plus qu'en 2015. Pour l'année 2017, les collectes viennent d'atteindre 100M€. Le crowdlending apporte soit un complément aux financements classiques (love money, banque, etc.), soit une réelle alternative. Cependant, malgré des débuts très prometteurs, son expansion tend à se modérer. En août 2017, le nombre de dossiers financés a connu sa plus faible progression depuis un an et demi. L'objectif est ici de comprendre pourquoi certaines campagnes de financement aboutissent, et pourquoi d'autres échouent. Comment les informations disponibles en ligne influencent-elles l'aboutissement d'une campagne de crowdlending ? Notre méthodologie est exploratoire et qualitative. Nous proposons d'analyser le discours des porteurs de projet afin de comprendre si certains messages se révèlent plus attractifs et convaincants pour le prêteur. Nous avons choisi de nous focaliser sur le cas de la plateforme Lendopolis pour cette recherche, car actuellement c'est la seule plateforme à communiquer de manière transparente sur l'ensemble des projets. De plus, elle ne permet pas l'autolend 1 , ce qui permet d'analyser le comportement réel des prêteurs. Nous commencerons cette communication par une synthèse de la littérature qui encadre le crowdlending puis nous exposons notre méthodologie de recherche. Nous apportons ensuite nos résultats exploratoires et concluons sur la question de recherche. 1 L'autolend est une « gestion automatisée des offres de prêts » en fonction des critères pré-remplis par les membres des plateformes (Unilend, Prêtup)
    Date: 2017–12–07
  22. By: Florence Benoît-Moreau (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Eva Delacroix (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Béatrice Parguel (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique)
    Abstract: The present research fuels the debate about the opportunity of collaborative economy to "empower" low-income consumers. More precisely, it questions whether the economic and psychological benefits derived from the buy-and-sell activities on collaborative Internet platforms vary across users' income levels. A questionnaire was administered in May 2016 to a sample of 734 female respondents, recruited in France's poorest region, and over-representing the lower categories of incomes. Results indicate that all users derive economic benefits from their buy-and-sell activities on collaborative platforms. However, when it comes to psychological benefits, low and high-income consumers show a different pattern of results: whereas high-income respondents derive psychological benefits from their buy-and-sell activity itself, poor people do not directly associate psychological benefits from such activity, but only through the mediation of perceived economic benefits.
    Abstract: Cette recherche questionne l'opportunité pour l'économie collaborative de développer le "pouvoir d'agir" des consommateurs financièrement contraints. Plus précisément, elle examine la capacité des pratiques d'achat-vente sur les plateformes collaboratives en ligne à générer des bénéfices économiques et psycho-sociaux, selon le niveau de revenus des utilisateurs. Un questionnaire a été administré en mai 2016 à un échantillon de 734 femmes, recrutées dans la région la plus pauvre de France et sur-représentant les catégories de revenus les plus basses. Les résultats indiquent que tous les utilisateurs tirent des bénéfices économiques de leurs activités d'achat-vente sur ces plateformes collaboratives. Cependant, concernant les bénéfices psycho-sociaux, les résultats contrastent entre les plus pauvres et les plus aisés : alors que les plus riches tirent des bénéfices psycho-sociaux de l'activité d'achat-vente en tant que telle, les plus pauvres n'en tirent pas de bénéfices directement, mais seulement via la médiation des bénéfices économiques perçus.
    Keywords: Psycho-social benefits,Poverty,Collaborative economy,Second-hand,Economie Collaborative,Marché d'occasion,Pauvreté,Bénéfices psycho-sociaux
    Date: 2017–05

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