The Impact of Online Reviews on Consumer Choice

Abstract

This paper will explore how online reviews influence consumer behavior and decision-making processes. It will analyze the economic factors at play, such as information asymmetry and trust, and how online reviews can affect product demand and market competition.The sharing economy, characterized by peer-to-peer marketplaces, has significantly impacted traditional industries. This paper will examine the economic effects of the sharing economy, including its impact on competition, pricing models, and labor markets.