Behind the hype: unfulfilled promises and social consequences of the sharing economy

Abstract

The declared benefits for people, communities and the planet of sharing economy (SE) have been praised for years, even though studies began to highlight that SE had failed to meet certain expectations. Although substantial research focuses on the SE impacts, literature examining its adverse social effects needs to be more extensive. This research aims to investigate the SE's social drawbacks from various angles, considering different standpoints, such as providers, consumers, companies and communities. By conducting a systematic literature review of 103 academic papers, the study provides a comprehensive description and analysis of the SE's unintended social effects at both micro- and macro-levels; the negative social effects have been compared with the SE promises, creating a bridge between the main claims and SE actual impact. While the expansion of the SE has contributed to market destabilization and social externalities, the literature suggests that these issues stem from specific implementation models and regulatory gaps rather than the sharing logic itself. Company narratives reinforce expectations that often go unmet, widening the gap between promises and reality. This research identifies future research directions, managerial implications and solutions to mitigate negative social consequences. The originality of this study lies in the analysis of the negative social effects from multiple standpoints and their comparison with the SE promises, creating a bridge between the main claims, SE actual impact and the proposed solutions mentioned in the literature. These findings demonstrate how negative impacts have contradicted SE’ promises.