DeepAI
Log In Sign Up

An Optimization Framework For Online Ride-sharing Markets

12/12/2016
by   Yongzheng Jia, et al.
0

Taxi services and product delivery services are instrumental for our modern society. Thanks to the emergence of sharing economy, ride-sharing services such as Uber, Didi, Lyft and Google's Waze Rider are becoming more ubiquitous and grow into an integral part of our everyday lives. However, the efficiency of these services are severely limited by the sub-optimal and imbalanced matching between the supply and demand. We need a generalized framework and corresponding efficient algorithms to address the efficient matching, and hence optimize the performance of these markets. Existing studies for taxi and delivery services are only applicable in scenarios of the one-sided market. In contrast, this work investigates a highly generalized model for the taxi and delivery services in the market economy (abbreviated as"taxi and delivery market") that can be widely used in two-sided markets. Further, we present efficient online and offline algorithms for different applications. We verify our algorithm with theoretical analysis and trace-driven simulations under realistic settings.

READ FULL TEXT

page 1

page 2

page 3

page 4

09/12/2021

Matching markets with middlemen under transferable utility

This paper studies matching markets in the presence of middlemen. In our...
06/03/2021

Optimizing Rankings for Recommendation in Matching Markets

Based on the success of recommender systems in e-commerce, there is grow...
11/22/2017

Allocation Problems in Ride-Sharing Platforms: Online Matching with Offline Reusable Resources

Bipartite matching markets pair agents on one side of a market with agen...
04/30/2021

Unique Ergodicity in the Interconnections of Ensembles with Applications to Two-Sided Markets

There has been much recent interest in two-sided markets and dynamics th...
07/18/2020

Formally Verified Trades in Financial Markets

We introduce a formal framework for analyzing trades in financial market...
03/09/2021

Efficient Algorithms for Global Inference in Internet Marketplaces

Matching demand to supply in internet marketplaces (e-commerce, ride-sha...
05/22/2021

Nash-Bargaining-Based Models for Matching Markets, with Implementations and Experimental Results

This paper addresses the paucity of models of matching markets, both one...