Skip to main content
SpringerLink
Log in

A peer-to-peer (P2P) platform business model: the case of Airbnb

  • Empirical article
  • Published:
Service Business Aims and scope Submit manuscript

Abstract

This study applies the resource exchange theory and social exchange theory perspectives in examining the structural relationships among value-creating components, trusting beliefs, and platform loyalty. An online survey (N = 320) was implemented to collect data from American respondents. Structural equation modeling analysis was conducted to test the proposed hypotheses. Results showed that the value-creating components of platform quality, compatibility, market opportunity, and fairness except for convenience had significant positive effects on trusting beliefs. Trusting beliefs positively influenced both switching resistance loyalty. Subsequently, switching resistance loyalty positively influenced loyalty to the platform. Theoretical and practical implications of the results are discussed.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1

Similar content being viewed by others

References

  • Alqahtani FA (2014) A fair exchange & customer anonymity protocol using a trusted third party for electronic commerce transactions & payments. Int J Netw Secur Appl 6(1):59–74

    Google Scholar 

  • Anderson JC, Gerbing DW (1988) Structural equation modeling in practice: a review and recommended two-step approach. Psychol Bull 103(3):411–423

    Google Scholar 

  • Balasubramanian S, Konana P, Menon NM (2003) Customer satisfaction in virtual environments: a study of online investing. Manag Sci 49(7):871–889

    Article  Google Scholar 

  • Basole RC, Karla J (2011) On the evolution of mobile platform ecosystem structure and strategy. Bus Inf Syst Eng 3(5):313–322

    Article  Google Scholar 

  • Bentler PM, Mooijaart A (1989) Choice of structural model via parsimony: a rationale based on precision. Psychol Bull 106(2):315–317

    Article  Google Scholar 

  • Brinberg D, Wood R (1983) A resource exchange theory analysis of consumer behavior. J Consum Res 10(3):330–338

    Article  Google Scholar 

  • Casaló LV, Flavián C, Guinalíu M (2011) Understanding the intention to follow the advice obtained in an online travel community. Comput Hum Behav 27(2):622–633

    Article  Google Scholar 

  • Cazier J (2003) The role of value compatibility in trust production and e-commerce. AMCIS 2003 Proceedings 430

  • Ceccagnoli M, Forman C, Huang P, Wu DJ (2012) Cocreation of value in a platform ecosystem! the case of enterprise software. MIS Q 36(1):263–290

    Article  Google Scholar 

  • Chen CJ, Hung SW (2010) To give or to receive? Factors influencing members’ knowledge sharing and community promotion in professional virtual communities. Inf Manag 47(4):226–236

    Article  Google Scholar 

  • Chen D, Lai F, Lin Z (2014) A trust model for online peer-to-peer lending: a lender’s perspective. Inf Technol Manag 15(4):239–254

    Article  Google Scholar 

  • Collier JE, Kimes SE (2013) Only if it is convenient: understanding how convenience influences self-service technology evaluation. J Serv Res 16(1):39–51

    Article  Google Scholar 

  • Dann S (2008) Adaptation and adoption of the American Marketing Association (2007) definition for social marketing. Soc Mark Q 14(2):92–100

    Article  Google Scholar 

  • Das TK, Teng BS (2000) A resource-based theory of strategic alliances. J Manag 26(1):31–61

    Google Scholar 

  • Delone WH, McLean ER (2003) The DeLone and McLean model of information systems success: a ten-year update. J Manag Inf Syst 19(4):9–30

    Article  Google Scholar 

  • Ert E, Fleischer A, Magen N (2016) Trust and reputation in the sharing economy: the role of personal photos in Airbnb. Tour Manag 55:62–73

    Article  Google Scholar 

  • Fernández-Sabiote E, Román S (2016) The multichannel customer’s service experience: building satisfaction and trust. Serv Bus 10(2):423–445

    Article  Google Scholar 

  • Flavián C, Guinalíu M, Gurrea R (2006) The role played by perceived usability, satisfaction and consumer trust on website loyalty. Inf Manag 43(1):1–14

    Article  Google Scholar 

  • Fornell C, Larcker DF (1981) Evaluating structural equation models with unobservable variables and measurement error. J Mark Res 18(1):39–50

    Google Scholar 

  • Gefe D, Karahanna E, Straub DW (2003) Trust and TAM in online shopping: an integrated model. MIS Q 27(1):51–90

    Article  Google Scholar 

  • Ghezzi A, Nogueira Cortimiglia M, Balocco R (2012) Mobile content and service delivery platforms: a technology classification model. Info 14(2):72–88

    Article  Google Scholar 

  • Gruber M, MacMillan IC, Thompson JD (2008) Look before you leap: market opportunity identification in emerging technology firms. Manag Sci 54(9):1652–1665

    Article  Google Scholar 

  • Gupta R, Kabadayi S (2010) The relationship between trusting beliefs and web site loyalty: the moderating role of consumer motives and flow. Psychol Mark 27(2):166–185

    Article  Google Scholar 

  • Hair JF, Anderson RE, Tatham RL, Black WC (2010) Multivariate data analysis, 7th edn. Prentice-Hall Inc., Upper Saddle River

    Google Scholar 

  • Heo CY (2016) Sharing economy and prospects in tourism research. Ann Tour Res 58:166–170

    Article  Google Scholar 

  • Hung K, Li SY, Tse DK (2011) Interpersonal trust and platform credibility in a Chinese multibrand online community. J Advert 40(3):99–112

    Article  Google Scholar 

  • Hwang J, Griffiths MA (2017) Share more, drive less: millennials value perception and behavioral intent in using collaborative consumption services. J Consum Mark 34(2):132–146

    Article  Google Scholar 

  • Jarach D (2002) The digitalisation of market relationships in the airline business: the impact and prospects of e-business. J Air Trans Manag 8(2):115–120

    Article  Google Scholar 

  • Jiang L, Jun M, Yang Z (2016) Customer-perceived value and loyalty: how do key service quality dimensions matter in the context of B2C e-commerce? Serv Bus 10(2):301–317

    Article  Google Scholar 

  • Johnson TJ, Kaye BK (2002) We believability: a path model examining how convenience and reliance predict online credibility. J Mass Commun Q 79(3):619–642

    Google Scholar 

  • Jung H, Lee G, Hur K, Kim TT (2018) Online travel information value and its influence on the continuance usage intention of social media. Serv Bus 12(1):85–120

    Article  Google Scholar 

  • Karahanna E, Agarwal R, Angst CM (2006) Reconceptualizing compatibility beliefs in technology acceptance research. MIS Q 30(4):781–804

    Article  Google Scholar 

  • Karani KG, Fraccastoro KA (2010) Resistance to brand switching: the elderly consumer. J Bus Econ Res 8(12):77–83

    Google Scholar 

  • Karayanni DA (2003) Web-shoppers and non-shoppers: compatibility, relative advantage and demographics. Eur Bus Rev 15(3):141–152

    Article  Google Scholar 

  • Kim HW, Gupta S (2012) Investigating customer resistance to change in transaction relationship with an Internet vendor. Psychol Mark 29(4):257–269

    Article  Google Scholar 

  • Kim TT, Karatepe OM, Lee G (2018) Test of an integrative model of travel-related social media users’ switching intentions. Serv Bus. https://doi.org/10.1007/s11628-018-0385-6

    Article  Google Scholar 

  • Komiak SY, Benbasat I (2006) The effects of personalization and familiarity on trust and adoption of recommendation agents. MIS Q 30(4):941–960

    Article  Google Scholar 

  • Lam SK, Ahearne M, Hu Y, Schillewaert N (2010) Resistance to brand switching when a radically new brand is introduced: a social identity theory perspective. J Mark 74(6):128–146

    Article  Google Scholar 

  • Lee D (2018) Effects of key value co-creation elements in the healthcare system: focusing on technology applications. Serv Bus. https://doi.org/10.1007/s11628-018-00388-9

    Article  Google Scholar 

  • Lee KH, Hyun SS (2016) A model of value-creating practices, trusting beliefs, and online tourist community behaviors: risk aversion as a moderating variable. Int J Contemp Hosp Manag 28(9):1868–1894

    Article  Google Scholar 

  • Lee JJ, Capella ML, Taylor CR, Gabler CB (2014) The financial impact of loyalty programs in the hotel industry: a social exchange theory perspective. J Bus Res 67(10):2139–2146

    Article  Google Scholar 

  • Lee SM, Kim NR, Hong SG (2017) Erratum to: key success factors for mobile app platform activation. Serv Bus 11(2):451–451

    Article  Google Scholar 

  • Lin HF (2011) An empirical investigation of mobile banking adoption: the effect of innovation attributes and knowledge-based trust. Int J Inf Manag 31(3):252–260

    Article  Google Scholar 

  • Lorenzo-Romero C, Constantinides E, Alarcón-del-Amo MDC (2013) Web aesthetics effects on user decisions: impact of exposure length on website quality perceptions and buying intentions. J Internet Commer 12(1):76–105

    Article  Google Scholar 

  • Lu Y, Zhao L, Wang B (2010) From virtual community members to C2C e-commerce buyers: trust in virtual communities and its effect on consumers’ purchase intention. Electron Commer Res Appl 9(4):346–360

    Article  Google Scholar 

  • Lu J, Wang L, Hayes LA (2012) How do technology readiness, platform functionality and trust influence C2C user satisfaction? J Electron Commer Res 13(1):50–69

    Google Scholar 

  • Márof R, Mat N, Rashid U, Nasuredin J, Sanita F (2012) Store loyalty, retail satisfaction and competitive resistance towards purchase intentions. Am J Econ 2(4):69–72

    Article  Google Scholar 

  • Marsh HW, Hocevar D (1985) Application of confirmatory factor analysis to the study of self-concept: first-and higher order factor models and their invariance across groups. Psychol Bull 97(3):562–582

    Article  Google Scholar 

  • McIntyre DP, Srinivasan A (2017) Networks, platforms, and strategy: emerging views and next steps. Strateg Manag J 38(1):141–160

    Article  Google Scholar 

  • McKnight DH, Chervany NL (2001) What trust means in e-commerce customer relationships: an interdisciplinary conceptual typology. Int J Electron Commer 6(2):35–59

    Article  Google Scholar 

  • McKnight DH, Choudhury V, Kacmar C (2002) The impact of initial consumer trust on intentions to transact with a web site: a trust building model. J Strateg Inf Syst 11(3):297–323

    Article  Google Scholar 

  • Medina C, Rufín R, Rey M (2015) Mediating relationships in and satisfaction with online technologies: communications or features beyond expectations? Serv Bus 9(4):587–609

    Article  Google Scholar 

  • Milanova V, Maas P (2017) Sharing intangibles: uncovering individual motives for engagement in a sharing service setting. J Bus Res 75:159–171

    Article  Google Scholar 

  • N’Goala G (2007) Customer switching resistance (CSR): the effects of perceived equity, trust and relationship commitment. Int J Serv Ind Manag 18(5):510–533

    Article  Google Scholar 

  • Parguel B, Lunardo R, Benoit-Moreau F (2017) Sustainability of the sharing economy in question: when second-hand peer-to-peer platforms stimulate indulgent consumption. Technol Forecast Soc Chang 125:48–57

    Article  Google Scholar 

  • Peña AIP, Jamilena DMF, Molina MÁR (2017) The effects of perceived value on loyalty: the moderating effect of market orientation adoption. Serv Bus 11(1):93–116

    Article  Google Scholar 

  • Pezenka I, Weismayer C, Lalicic L (2017) Personality impacts on the participation in peer-to-peer (P2P) travel accommodation services. In: Information and Communication Technologies in Tourism 2017 Springer, Cham, pp 767–780

    Chapter  Google Scholar 

  • Priporas CV, Stylos N, Rahimi R, Vedanthachari L (2017) Unraveling the diverse nature of service quality in a sharing economy: a social exchange theory perspective of Airbnb accommodation. Int J Contemp Hosp Manag 29(9):2279–2301

    Article  Google Scholar 

  • Reichheld FF, Schefter P (2000) E-loyalty: your secret weapon on the web. Harv Bus Rev 78(4):105–113

    Google Scholar 

  • Reitz AK, Zimmermann J, Hutteman R, Specht J, Neyer FJ (2014) How peers make a difference: the role of peer groups and peer relationships in personality development. Eur J Pers 28(3):279–288

    Article  Google Scholar 

  • Rindskopf D, Rose T (1988) Some theory and applications of confirmatory second-order factor analysis. Multivar Behav Res 23(1):51–67

    Article  Google Scholar 

  • Roschk H, Trabold W, Gelbrich K (2018) Insights from social resource theory for service business development. service business development. Springer Gabler, Wiesbaden, pp 41–58

    Chapter  Google Scholar 

  • Rosenbaum MS, Kelleher C, Friman M, Kristensson P, Scherer A (2017) Re-placing place in marketing: a resource-exchange place perspective. J Bus Res 79:281–289

    Article  Google Scholar 

  • Ryu MH, Kim J, Kim S (2014) Factors affecting application developers’ loyalty to mobile platforms. Comput Hum Behav 40:78–85

    Article  Google Scholar 

  • Schlosser AE, White TB, Lloyd SM (2006) Converting web site visitors into buyers: how web site investment increases consumer trusting beliefs and online purchase intentions. J Mark 70(2):133–148

    Article  Google Scholar 

  • Sindhav B, Holland J, Rodie AR, Adidam PT, Pol LG (2006) The impact of perceived fairness on satisfaction: are airport security measures fair? does it matter? J Mark Theory Pract 14(4):323–335

    Article  Google Scholar 

  • Teddlie C, Yu F (2007) Mixed methods sampling: a typology with examples. J Mixed Methods Res 1(1):77–100

    Article  Google Scholar 

  • Tiwana A, Bush A (2000) Peer-to-peer valuation as a mechanism for reinforcing active learning in virtual communities: actualizing social exchange theory. In: Proceedings of the 33rd Hawaii International Conference on System Sciences (CD-ROM), Hawaii, USA

  • Truss LT, Wu P, Saroop A, Sehgal SK (2006) Enterprise demand sensing in the automotive industry. J Bus Forecast 25(3):22–23

    Google Scholar 

  • Tussyadiah IP (2016) Factors of satisfaction and intention to use peer-to-peer accommodation. Int J Hosp Manag 55:70–80

    Article  Google Scholar 

  • Wang W, Benbasat I (2007) Recommendation agents for electronic commerce: effects of explanation facilities on trusting beliefs. J Manag Inf Syst 23(4):217–246

    Article  Google Scholar 

  • Wang W, Benbasat I (2008) Attributions of trust in decision support technologies: a study of recommendation agents for e-commerce. J Manag Inf Syst 24(4):249–273

    Article  Google Scholar 

  • Xie K, Mao Z (2017) The impacts of quality and quantity attributes of Airbnb hosts on listing performance. Int J Contemp Hosp Manag 29(9):2240–2260

    Article  Google Scholar 

  • Yang SJ, Chen IY (2008) A social network-based system for supporting interactive collaboration in knowledge sharing over peer-to-peer network. Int J Hum Comput Stud 66(1):36–50

    Article  Google Scholar 

  • Yang Q, Pang C, Liu L, Yen DC, Tarn JM (2015) Exploring consumer perceived risk and trust for online payments: an empirical study in China’s younger generation. Comput Hum Behav 50:9–24

    Article  Google Scholar 

  • Zhao J, Lau RY, Zhang W, Zhang K, Chen X, Tang D (2016) Extracting and reasoning about implicit behavioral evidences for detecting fraudulent online transactions in e-commerce. Decis Support Syst 86:109–121

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Department of Management, Ball State University, AT Building 206F, Muncie, IN, 47306, USA

    Kwang-Ho Lee

  2. Wilson School of Hospitality and Resort Management, University of Memphis, 3700 Central Avenue, Suite 140 E, Memphis, TN, 38152, USA

    DongHee Kim

Authors
  1. Kwang-Ho Lee
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. DongHee Kim
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Kwang-Ho Lee.

Additional information

Publisher's Note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Lee, KH., Kim, D. A peer-to-peer (P2P) platform business model: the case of Airbnb. Serv Bus 13, 647–669 (2019). https://doi.org/10.1007/s11628-019-00399-0

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s11628-019-00399-0

Keywords

Search

Navigation