Value co creation in a sharing economy: The end of price wars?
Abstract The growing phenomenon of the sharing economy facilitates collaborative production and consumption, which highlights the concept of value co creation. The current study aims to investigate the role of value co creation in a sharing economy with an examination of consumers' willingness to pay a premium price. Three types of functional, social, and emotional co created values were explored through an online survey that focused on the pre consumption, mid consumption, and post consumption stages. Four hundred and ninety nine valid surveys were collected. The results showed that activities that involve functional and social values in the pre consumption stage are stimulators of paying a premium price. In the mid consumption stage, emotional value is also important for customers. However, in the post consumption stage, only social value based activities are associated with willingness to pay a premium price.