Economic Regulation Oriented to the sharing economy: An approach from target 10.3 of the 2030 agenda

Abstract

This work is focused on target 10.3 of the 2030 Agenda, which seeks to “Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies, and practices and promoting appropriate legislation, policies and action in this regard”. To analyze the economic implications of this target, this study focuses on the Sharing Economy, and in public passenger transport industries. As target 10.3 is associated with regulation, it is considered that the theory of neo-institutional economics is valid and appropriate for the identification of economic concepts for regulation. Consequently, the analysis of the chosen documents was developed from the four main concepts of the neo-institutional economy: institutions, property rights, transaction costs, and contracts. As a result, a conceptual model was obtained in which the institutional environment is regulated by 1) property rights, which affect the flow and distribution of the benefits of those who make up the industry; 2) transaction costs, represented in tax payment and different market entry costs such as licenses, fees, certificates, quotas, among others; and 3) contracts, related to the nature of the traded assets, so it will be necessary to establish the substitution level of the services offered (perfect substitutes, imperfect substitutes) and the control of user-provider interactions. From the conceptual model, a series of propositions are derived and validated through a case study, which identifies the gaps between theory and practice to provide regulatory alternatives for governments. Future work should be oriented towards validating the specific relations derived from the conceptual model obtained in this study.