Matching and Pricing Coordination for Shared Transportation

Topic:

Matching and Pricing Coordination for Shared Transportation

Time&Date: 

  15:00-16:15 pm, 2019/4/4 (Thursday)

Venue:

  Room 619, Teaching A

Speaker:

Dr. Hai Wang (Singapore Management University)

With the rapid development and popularization of mobile and communication technologies, dynamic ride-sharing platforms, as pioneers in a sharing economy context, provide on-demand shared transportation services and are disruptively changing the transportation industry. First, we study the matching problem for ride-sharing platforms, in which the platforms match passengers and drivers in real time considering multiple objectives such as platform revenue, pick-up distance, and service quality. We develop an efficient online matching policy, provide theoretical performance guarantee, and demonstrate its good performance through numerical experiments and implementation using real data from a ride-sharing platform. Second, we propose a framework to study the coordination of platform demand and supply using prices and wages. We use a queueing model with endogenous supply and demand and present steady-state performance in equilibrium to determine the optimal price and wage that maximize the platform’s profit or social welfare.