Dynamic Evolution of Safety Regulation of the Ridesharing Industry under Social Media Participation

Abstract

The emergence of ridesharing has spread against the background of the sharing economy. There have been a lot of controversies since the emergence of ridesharing, particularly regarding regulatory issues. The safety regulation of the ridesharing industry involves many parties, including governments, platform companies, and society at large. Currently, because of the influence of information asymmetry, it increases the uncertainty of governments’ regulation effect and the difficulty of making regulation measures. Meanwhile, social media, one of the most important forces of social regulation, has not paid enough attention to playing an appropriate role in the safety regulation of the ridesharing industry. Therefore, this study constructs an evolutionary game model between governments and platform companies that concerns the safety regulations of ridesharing passengers under social media participation. The influence path of social media is explored by model solution and numerical simulation. Our results indicate that social media participation has a positive impact on this safety regulation. Specifically, social media participation could reduce governments’ regulatory costs and encourage it to strictly regulate. The exposure of social media could bring losses to platform companies involved and promote platform companies’ investments in improving passengers’ safety. This study provides a decision basis for governments to introduce social media in the safety regulation of the ridesharing industry.

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