Drawing on moral disengagement theory and liquid consumption theory, this study proposed and tested a conceptual model of guests’ unethical behavior in peer-to-peer (P2P) accommodation, an area of concern as the P2P market grows and regulation is insufficient. The moderating role of perceived consumption liquidity and mediating role of moral disengagement in the relationship between self-construal and guests’ unethical behavior was investigated. Using an online survey and a between-subject experiment, this study found that moral disengagement fully mediates the positive effect of independent self-construal and partially mediates the negative effect of interdependent self-construal on guests’ unethical behavior in P2P accommodation. Findings also suggest that perceived consumption liquidity moderates the effect of self-construal on guests’ moral disengagement. The theoretical and practical implications for P2P accommodation are discussed.