Ride on Bikes, Rise of Economics
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Yanzhen Chen, Yatang Lin
We assess the impact of bike-sharing on residential house prices, rental rates, and public transportation usage. Using a comprehensive dataset on a leading home estate agent in China, we regress zip code level house prices and rental rates on the usage of sharing bikes, instrumenting bike usage with geographical ruggedness in a difference-in-difference setting. We expect to find that in a range of 3 kilometers from subway stations, the residential houses and rental rates increases in general. Moreover, we will examine whether bike-sharing increased the usage of public transportation including bus and subway using a unique transportation transaction data. Our paper empirically investigated the social benefit of an on-demand transportation solution for emerging economies, in which the demand of transportation overwhelms the development of infrastructure and environmental protection is urgent due to the fast industrialization.
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