Personalized pricing and the value of time: evidence from auctioned cab rides

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F25%3A00636239" target="_blank" >RIV/67985998:_____/25:00636239 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216208:11640/25:00646383

Výsledek na webu

<a href="https://doi.org/10.3982/ECTA18838" target="_blank" >https://doi.org/10.3982/ECTA18838</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3982/ECTA18838" target="_blank" >10.3982/ECTA18838</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Personalized pricing and the value of time: evidence from auctioned cab rides

Popis výsledku v původním jazyce

We recover valuations of time using detailed data from a large ride-hail platform, where drivers bid on trips and consumers choose between a set of rides with different prices and wait times. Leveraging a consumer panel, we estimate demand as a function of both prices and wait times and use the resulting estimates to recover heterogeneity in the value of time across consumers. We study the welfare implications of personalized pricing and its effect on the platform, drivers, and consumers. Taking into account drivers' optimal reaction to the platform's pricing policy, personalized pricing lowers consumer surplus by 2.5% and increases overall surplus by 5.2%. Like the platform, drivers benefit from personalized pricing. By conditioning prices on drivers' wait times and not on consumers' data, the platform can capture a significant portion of the profits garnered from personalized pricing, and simultaneously benefit consumers.

Název v anglickém jazyce

Personalized pricing and the value of time: evidence from auctioned cab rides

Popis výsledku anglicky

We recover valuations of time using detailed data from a large ride-hail platform, where drivers bid on trips and consumers choose between a set of rides with different prices and wait times. Leveraging a consumer panel, we estimate demand as a function of both prices and wait times and use the resulting estimates to recover heterogeneity in the value of time across consumers. We study the welfare implications of personalized pricing and its effect on the platform, drivers, and consumers. Taking into account drivers' optimal reaction to the platform's pricing policy, personalized pricing lowers consumer surplus by 2.5% and increases overall surplus by 5.2%. Like the platform, drivers benefit from personalized pricing. By conditioning prices on drivers' wait times and not on consumers' data, the platform can capture a significant portion of the profits garnered from personalized pricing, and simultaneously benefit consumers.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Econometrica

ISSN

0012-9682

e-ISSN

1468-0262

Svazek periodika

93

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

30

Strana od-do

929-958

Kód UT WoS článku

001506053200008

EID výsledku v databázi Scopus

2-s2.0-105007667596