Inside the sharing economy

Purpose This paper aims to investigate what motivates consumers to adopt one of the emerging mobile applications of the sharing economy, ridesharing application. Using social cognitive theory as the theoretical framework, this study develops a value adoption model to illustrate important factors that influence adoption of ridesharing applications. Design/methodology/approach Based on prior literature, a quantitative methodology was adopted using a survey questionnaire that allows for the measurement of the nine constructs contained in the hypothesized theoretical model. Data collected from a sample of 314 respondents in Beijing, China provided the foundation for the examination of the proposed relationships in the model. Findings First, the results indicate that self-efficacy is a fundamental factor that has a direct effect on consumers’ perceptions of value and an indirect effect on behavioral intentions. Second, the study demonstrates that functional value, emotional value and social value are critical antecedents of overall perceived value of ridesharing applications. On the other hand, learning effort and risk perception are not significant perceived costs for consumers in adopting ridesharing applications. Research limitations/implications Although typical adopters of internet applications constitute a significant portion of younger consumers, the use of a college student sample in this study may affect the generalizability of the results. Practical implications The findings provide critical insight into consumer motivations behind adoption of ridesharing applications specifically, and for sharing economy platforms in general. Originality/value This study provides important theoretical implications for innovation adoption research through an empirical examination of the relationship between personal, environmental and behavioral factors in a framework of social cognitive theory.