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What caused the rapid rise of Airbnb and Vrbo (short-term rental market) as rivals to hotels and motels?

The Economics of Short-Term Rentals vs. Hotels

Most consumers are familiar with the popular short-term rental apps Airbnb and Vrbo. What caused their rapid rise in the vacation market? Why has that market cooled in recent years, swinging demand back to hotels?...
4 min read
Policy instruments
Definitions

Policy instruments

Saddique Ansari • January 29, 2020 • 1 min read

Author bio

Policy instruments – definition

A policy instrument is an individual economic tool which can be used to manipulate an economic variable to achieve an economic objective. Instruments include interest rates, tax rates, subsidies, minimum prices and wages, and legislation.

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Policy objective

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Policy conflict

Firms can use data analysis to streamline operations, conduct market research, and design more desirable products.

Data as an Input: Returns to Scale in the Information Economy

As firms increase their volume and analysis of consumer data, will they become increasingly efficient at drawing in customers and create natural monopolies in each market? Will smaller firms be able to hold on in our digital analysis age?...
4 min read

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