Hybrid Mechanisms for On-Demand Transpor

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21230%2F19%3A00339528" target="_blank" >RIV/68407700:21230/19:00339528 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1109/TITS.2018.2886579" target="_blank" >https://doi.org/10.1109/TITS.2018.2886579</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1109/TITS.2018.2886579" target="_blank" >10.1109/TITS.2018.2886579</a>

Result language
angličtina
Original language name
Hybrid Mechanisms for On-Demand Transpor
Original language description
Market mechanisms are now playing a key role in the allocation and pricing of on-demand transportation services. In practice, most such services use posted-price mechanisms, where both passengers and drivers are offered a journey price which they can accept or reject. However, providers such as Liftago and GrabTaxi have begun to adopt a mechanism whereby auctions are used to price drivers. These latter mechanisms are neither posted-price nor classical double auctions and can instead be considered a hybrid mechanism. In this paper, we describe and study the properties of a novel hybrid on-demand transport mechanism. As these mechanisms require knowledge of passenger demand, we analyze the data-profit tradeoff as well as how the passenger and driver preferences influence mechanism performance. We show that the revenue loss revenue for the provider scales with root n log n for n passenger requests under a multi-armed bandit learning algorithm with beta-distributed preferences. We also investigate the effect of subsidies on both profit and the number of successful journeys allocated by the mechanism, comparing these with a posted-price mechanism, showing improvements in profit with a comparable number of successful requests.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
10201 - Computer sciences, information science, bioinformathics (hardware development to be 2.2, social aspect to be 5.8)

Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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