Building Trust and Identity on the Web - New IT Transaction Platforms to Overcome Psychological Barriers to Rent

Abstract

In Switzerland the holiday-home-market is a major pillar in the accommodation sector as there are more holiday apartment beds than hotel beds. While the number of hotel beds decreases for economic reasons a positive trend of holiday apartment beds exists, but only a limited number of second homes are on the market. This study investigates the barriers-to-rent on an economical, social and psychological level based on theoretical models and empirical survey in Swiss destinations. It was found that IT could play an important role in increasing the number of second-home beds available on the market. By using internet platforms which connect owners, guests and agents, psychological and economic barriers for owners can be overcome. Especially the psychological barriers, which include identity and trust issues encounter positive effects if web-platforms are introduced. The results of this study also give insights for the durable goods in the leisure sector and their rental.