The gig economy's disruptions on incumbent businesses have raised significant attention from policy-makers. This research focuses on one of the gig economy platforms, the online peer-to-peer (P2P) short-term rental (STR) platform. We examine how the governmental STR interventions affect the long-term rental (LTR) market. Using the prospect theory and the theory in the economics of regulation, we study the relationship between the STR regulations and the LTR rental prices. We find a nonlinear relationship between the STR regulation and the LTR rental prices through analyzing a constructed panel of monthly LTR and STR data from 15 cities across the United States. The nonlinear relationship between these two indicates that STR regulations only have a short-term impact on the LTR market prices but they cannot effectively contain the negative impacts of STR on the LTR market in the long run. Thus, policy-makers need to find alternative ways to govern the STR businesses. We discussed the related practical implications for gig economy research and policy-making.

零工经济对现有企业的干扰引起了政策制定者的极大关注。这项研究的重点是零工经济平台之一，即在线点对点 (P2P) 短期租赁 (STR) 平台。我们研究了政府 STR 干预如何影响长期租赁 (LTR) 市场。运用前景理论和监管经济学理论，我们研究了STR监管与LTR租金价格之间的关系。通过分析来自美国 15 个城市的每月 LTR 和 STR 数据的构建面板，我们发现 STR 监管与 LTR 租金价格之间存在非线性关系。这两者之间的非线性关系表明，STR法规仅对LTR市场价格产生短期影响，但从长远来看无法有效遏制STR对LTR市场的负面影响。因此，政策制定者需要寻找替代方法来管理 STR 业务。我们讨论了零工经济研究和政策制定的相关实际意义。