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INVESTIGATION OF CONSUMER INTENTION TO USE AIRBNB BASED ON UTILITARIAN VALUE HEDONIC VALUE TRUST AND PERCEIVED RISK

초록/요약

A distinct disruptive business model driven by information technology has emerged in the form of sharing economy which is being discussed as an answer to a sustainable practice. Its underlying principle of temporarily sharing underutilized assets and skills among peers has made it unique from traditional economies. It has spread in many sectors mainly in accommodation, transportation, finance, goods, and personal services. This market has become a multibillion-dollar business and Airbnb has topped as one of the biggest pioneers. Airbnb is an online peer-to-peer accommodation sharing platform for people to list their spare rooms and houses for a rental fee which is relatively affordable and comfortable. The target of this rental company is to make guests feel at home away from home. Prior literature has examined the determining factors of intention to use Airbnb however, there is a lack of in-depth studies based on perceived value dimensions and trust. Therefore, this study investigates the intention to use Airbnb based on utilitarian and hedonic value dimensions. It explores the relationship of trust and perceived risk on intention to use. Furthermore, the effect of perceived risk on value dimension and trust is studied. An online-based questionnaire was distributed to the panel of Amazon Mechanic Turk, the crowdsourcing marketplace in August 2021. 523 valid responses were obtained from the travelers who had experienced Airbnb. The research model, which consists of proposed hypotheses, was statistically examined with the PLS-SEM analysis. Utilitarian value is proposed as a formative second-order construct formed by cost saving, convenience, and service quality. Hedonic value is proposed as a formative second-order construct formed by exploration, entertainment, and social benefit, identified in past research. Trust is also proposed as a formative second-order construct established by integrity, ability, and corporate social responsibility. Perceived risk is also proposed as a formative second-order construct formed by privacy risk, performance risk, and security risk. The results of the structural model are as follows. First, utilitarian value and hedonic value positively influence intention to use Airbnb where hedonic value exerted greater influence compared to the utilitarian value perceived by the users. It implies that Airbnb users regard socio-emotional value more than economic aspects. Second, trust also impacts positively and significantly on the intention to use Airbnb. To our surprise, perceived risk showed a positive and significant relationship with the behavioral intention which was inconsistent with general risk perception theory but fortunately, this risk paradox can be explained by disruptive innovation theory and risk-seeking behavior in tourism. It suggests that Airbnb users compromise with risk for the sake of excitement and adventure it provides. Furthermore, perceived risk has negative significant relationships with utilitarian value, hedonic value, and trust suggesting an inclusion of inherent risk perceptions that ultimately affect behavioral intention. The proposed first-order constructs were also found positively significant components of second-order constructs. The finding of the study is expected to better understand the effects of utilitarian value, hedonic value, trust, and perceived risk based on the framework of social exchange theory in sharing economy. The result makes a significant theoretical contribution by providing researchers with useful information for building and testing related theories. In addition, this study has clear practical implications for Airbnb managers to understand consumer behavior and devise successful marketing strategies to enhance consumer usage.

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목차

1. INTRODUCTION 1
1.1. Research Background 1
1.2. Research Purpose and Research Question 4
1.3. Research Structure 6
2. THEORETICAL BACKGROUND 6
2.1. Sharing Economy 6
2.2. Airbnb as a Company 10
2.2.1. A General Overview 10
2.2.2. Legal and Social Challenges 11
2.2.3. Extended Peer-to-Peer Short-Term Rental Market 13
2.3. Social Exchange Theory (SET) 13
2.3.1. Origin of SET 13
2.3.2. SET in Other Areas 14
2.3.3. SET as Theoretical Background 15
2.4. Literature Review 18
2.4.1. Utilitarian and Hedonic Value in Sharing Economy 18
2.4.2. Trust in Sharing Economy 20
2.4.3. Perceived Risk in Sharing Economy 22
3. RESEARCH MODELS AND HYPOTHESIS DEVELOPMENT 23
3.1. Research Model 23
3.2. Utilitarian Value and Intention to Use 25
3.3. Conceptualization and Operationalization of Utilitarian Value 26
3.3.1. Cost Saving 26
3.3.2. Convenience 27
3.3.3. Service Quality 28
3.4. Hedonic Value and Intention to Use 29
3.5. Conceptualization and Operationalization of Hedonic Value 30
3.5.1. Exploration 30
3.5.2. Entertainment 31
3.5.3. Social Benefit 31
3.6. Trust and Intention to Use 32
3.7. Conceptualization and Operationalization of Trust 33
3.7.1. Integrity 34
3.7.2. Ability 35
3.7.3. Corporate Social Responsibility (CSR) 35
3.8. Perceived Risk and Intention to Use 36
3.9. Conceptualization and Operationalization to Perceived Risk 37
3.9.1. Privacy Risk 38
3.9.2. Performance Risk 39
3.9.3. Security Risk 39
3.10. Perceived Risk, Utilitarian and Hedonic Value 40
3.11. Perceived Risk and Trust 41
4. RESEARCH METHODOLOGY 42
4.1. Research Design 42
4.2. Measures 45
4.3. Control Variables 46
5. DATA ANALYSIS 49
5.1. Preliminary Analysis 49
5.2. Model Testing 50
5.3. Measurement Validation 51
5.3.1. Reliability and Validity 51
5.4. Result 56
6. DISCUSSION 61
6.1. Theoretical Implication 65
6.2. Practical Implication 67
6.3. Limitation and Future Research 69
6.4. Conclusion 70
REFERENCE 72
APPENDIX A: MTurk invitation and consent page 99
APPENDIX B. The Survey 101




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