1) Social profiles and crowdsourced ratings can improve trust, but they can also
ID: 354874 • Letter: 1
Question
1) Social profiles and crowdsourced ratings can improve trust, but they can also create opportunities for fraud and discrimination. Give examples of where this technology may have negative ethical implications, and discuss how the provider of a sharing economy marketplace can minimize risks and discriminatory bias.
2) Give examples of the kinds of entrenched interests that will lobby against expansion of the sharing economy? Why are each of these groups opposed to sharing economy efforts?
3) What sort of legal trouble has Airbnb run into? Put yourself in the shoes of city lawmakers. List the pros and cons of allowing Airbnb or other property sharing services to operate in your city. Would you allow these services? Why or why not? If you would approve the service, would you extract concessions or write laws that force some changes that impact how Airbnb and its partners do business?
4) Make a list of products that many people own, but that are underutilized. Are there sharing economy startups for these categories? If so, conduct some research to try to determine how they’re doing. If not, do you think a market should be established? Why or why not? What challenges might such marketplaces face?
5) Why do you suppose San Francisco passed a law to limit home owners to cap Airbnb (and similar) property rental to 90 days or less?
Explanation / Answer
Answer: 1
Social profiles and crowdsourced ratings can improve trust, but they can also create opportunities for fraud and discrimination. This is very true that the social profiles and crowdsourced rating improves the trust of people, in facts this can influence the other people to convince or accept things in the society. The social profile is the first thing which can impress the other person in the society. Crowdsourced rating do influence people to accept other by the thinking that many people are in favor of the person, then the person also convinced himself with the crowdsourced ratings.
But these do have adverse impact as well. This creates opportunities for fraud and discrimination as well. Many people explore this as a platform for their fraud and discrimination plans as well. Many people when they feel that their social profile is acceptable to people and crowdsourced rating is good for them, then they try to explore the fraud and discrimination activities
Fraud and discrimination acts of famous people like political leaders, initially they try to make their social profile better and they want to get better crowdsourced rating, once they are good in both elements, then they start exploring their personal interest and misuse the nations’ energy and resources. Example – Chief Minister of Delhi. Initially he had very good social profile and croudsourced ratings, but later he turned to be bad person and many fraud and discrimination allegations were reported on him.
Provider of a sharing economy marketplace can minimize risks and discriminatory bias: This is the appropriate point that sharing economy needs to be aware of the social profile and croudsourced rating elements and their negative impacts on the market and consumers. So we need to have the right or balanced approach for managing the risks and issues due to these elements on the market and consumers. The biasing is the big impact and we should have actions to avoid the negative impacts of the biasing in the market and to the consumers.
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