2024/09/23 by Sumit Agarwal, Shashwat Alok, Agarwal, Sumit +6
Engineering · Business, Management and Accounting · Social Sciences · #Transportation and Mobility Innovations #Sharing Economy and Platforms #Urban Transport and Accessibility
paper · pdf · doi:10.48550/arxiv.2409.15462
We analyze the staggered entry of rideshare services across U.S. metropolitan areas, estimating its effect on the spatial redistribution and real outcomes of residents. Ridesharing services gentrify urban areas-especially those with ex-ante lower housing values-causing housing prices to rise 9 percent, with the in-migration of rich-younger individuals more than offsetting the out-migration of incumbent residents and reduced in-migration of poorer individuals. Impact on incumbent residents is conditional on ex-ante homeownership. For homeowners, there is no displacement and a decline in delinquency rates. For non-homeowners, displacement and delinquency rates rise 11 percent and 42 percent, respectively. Our study emphasizes how the private provision of high-end transportation technologies can increase urbanization and exacerbate inequality.