Title of Oral/Poster Presentation

Benefits of Sharing Economies of Ride-Sharing

Class

Article

Department

Economics and Finance

Faculty Mentor

Randy Simmons

Presentation Type

Poster Presentation

Abstract

Since the emergence of Uber in 2009 and Lyft in 2012, vehicle sharing among urban populations has increased. This is a cost-effective and convenient method of transportation for people who live in areas with dense traffic and high fuel and parking costs because it limits the need for people to own their own car. While the primary benefits of ridesharing services are enjoyed by the users, our research seeks to test whether or not there are other unintended consequences to these services. In the following study, we hypothesize that the presence of Uber and Lyft decrease the number of cars on the road, which results in more efficient transportation and greater public safety. Using regression analysis, we analyze New York City car and traffic data from 2007-2013 and compare this to data reflecting the growth of the ridesharing economy within New York City. Our time series analysis then allows us to make inferences about the potential benefits of ridesharing economies in similarly sized cities.

Start Date

4-9-2015 9:00 AM

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Apr 9th, 9:00 AM

Benefits of Sharing Economies of Ride-Sharing

Since the emergence of Uber in 2009 and Lyft in 2012, vehicle sharing among urban populations has increased. This is a cost-effective and convenient method of transportation for people who live in areas with dense traffic and high fuel and parking costs because it limits the need for people to own their own car. While the primary benefits of ridesharing services are enjoyed by the users, our research seeks to test whether or not there are other unintended consequences to these services. In the following study, we hypothesize that the presence of Uber and Lyft decrease the number of cars on the road, which results in more efficient transportation and greater public safety. Using regression analysis, we analyze New York City car and traffic data from 2007-2013 and compare this to data reflecting the growth of the ridesharing economy within New York City. Our time series analysis then allows us to make inferences about the potential benefits of ridesharing economies in similarly sized cities.