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Dynamic prices in ride-sharing scenarios

2024
book section
conference proceedings
10.5220/0012722500003702
Author
Duraj Lech

Herman Grzegorz
Editor
Vinel Alexey

Ploeg Jeroen

Berns Karsten

Gusikhin Oleg
Book title / Journal title
Proceedings of the 10th International Conference on Vehicle Technology and Intelligent Transport Systems
Place
SetúbalPortugal
Publisher
SciTePress
Pages
437-443
ISBN
978-989-758-703-0
Series
VEHITS
Serie's ISSN
2184-495X
Number of serie
1
Keywords in English

pricing strategy

dynamic pricing

ride sharing

dial-a-ride

URL
https://www.scitepress.org/Link.aspx?doi=10.5220/0012722500003702
Date accessed
2024-10-02
Notes

Książka ma DOI: 10.5220/0000186800003702

Language
English
Book language / Journal language
English
Abstract in English

We describe a dynamic pricing strategy applicable to ride-sharing scenarios in public transportation services. The strategy incorporates data about relation popularity and price acceptance rates. Crucially, it captures interdependencies between tickets for different relations served by a single vehicle, and thus is able to balance out locally optimal pricing with the expected future evolution of vehicle occupancy state. Based on historical data about a real-world ride-sharing operator, we demonstrate that the proposed method is robust to imperfections in the input data, and estimate it to be more profitable than both fixed-price strategies (even theoretically optimal), and an actual dynamic pricing strategy prescribed by business experts.

Conference
10th International Conference on Vehicle Technology and Intelligent Transport Systems
Conference short name
VEHITS 2024
Conference start date
2024-05-02
End date conference
2024-05-04
Conference city
Angers
Conference country
Francja
Conference type
international
Affiliation
Wydział Matematyki i Informatyki : Instytut Informatyki Analitycznej
dc.abstract.enWe describe a dynamic pricing strategy applicable to ride-sharing scenarios in public transportation services. The strategy incorporates data about relation popularity and price acceptance rates. Crucially, it captures interdependencies between tickets for different relations served by a single vehicle, and thus is able to balance out locally optimal pricing with the expected future evolution of vehicle occupancy state. Based on historical data about a real-world ride-sharing operator, we demonstrate that the proposed method is robust to imperfections in the input data, and estimate it to be more profitable than both fixed-price strategies (even theoretically optimal), and an actual dynamic pricing strategy prescribed by business experts.
dc.affiliationWydział Matematyki i Informatyki : Instytut Informatyki Analitycznej
dc.conference10th International Conference on Vehicle Technology and Intelligent Transport Systems
dc.conference.cityAngers
dc.conference.countryFrancja
dc.conference.datefinish2024-05-04
dc.conference.datestart2024-05-02
dc.conference.seriesInternational Conference on Vehicle Technology and Intelligent Transport Systems
dc.conference.seriesshortcutVEHITS
dc.conference.shortcutVEHITS 2024
dc.conference.weblinkhttps://vehits.scitevents.org/?y=2024
dc.contributor.authorDuraj, Lech - 133967
dc.contributor.authorHerman, Grzegorz - 186388
dc.contributor.editorVinel, Alexey
dc.contributor.editorPloeg, Jeroen
dc.contributor.editorBerns, Karsten
dc.contributor.editorGusikhin, Oleg
dc.date.accession2024-10-02
dc.date.accessioned2024-10-03T10:19:23Z
dc.date.available2024-10-03T10:19:23Z
dc.date.issued2024
dc.date.openaccess0
dc.description.accesstimew momencie opublikowania
dc.description.additionalKsiążka ma DOI: 10.5220/0000186800003702
dc.description.conftypeinternational
dc.description.physical437-443
dc.description.seriesVEHITS
dc.description.seriesnumber1
dc.description.versionostateczna wersja wydawcy
dc.identifier.bookweblinkhttps://www.scitepress.org/ProceedingsDetails.aspx?ID=EtJwIyhqbLs=&t=1
dc.identifier.doi10.5220/0012722500003702
dc.identifier.isbn978-989-758-703-0
dc.identifier.seriesissn2184-495X
dc.identifier.urihttps://ruj.uj.edu.pl/handle/item/449850
dc.identifier.weblinkhttps://www.scitepress.org/Link.aspx?doi=10.5220/0012722500003702
dc.languageeng
dc.language.containereng
dc.placeSetúbal
dc.placePortugal
dc.publisherSciTePress
dc.rightsDodaję tylko opis bibliograficzny
dc.rights.licenceCC-BY-NC-ND
dc.share.typeotwarte repozytorium
dc.subject.enpricing strategy
dc.subject.endynamic pricing
dc.subject.enride sharing
dc.subject.endial-a-ride
dc.subtypeConferenceProceedings
dc.titleDynamic prices in ride-sharing scenarios
dc.title.containerProceedings of the 10th International Conference on Vehicle Technology and Intelligent Transport Systems
dc.typeBookSection
dspace.entity.typePublicationen
dc.abstract.en
We describe a dynamic pricing strategy applicable to ride-sharing scenarios in public transportation services. The strategy incorporates data about relation popularity and price acceptance rates. Crucially, it captures interdependencies between tickets for different relations served by a single vehicle, and thus is able to balance out locally optimal pricing with the expected future evolution of vehicle occupancy state. Based on historical data about a real-world ride-sharing operator, we demonstrate that the proposed method is robust to imperfections in the input data, and estimate it to be more profitable than both fixed-price strategies (even theoretically optimal), and an actual dynamic pricing strategy prescribed by business experts.
dc.affiliation
Wydział Matematyki i Informatyki : Instytut Informatyki Analitycznej
dc.conference
10th International Conference on Vehicle Technology and Intelligent Transport Systems
dc.conference.city
Angers
dc.conference.country
Francja
dc.conference.datefinish
2024-05-04
dc.conference.datestart
2024-05-02
dc.conference.series
International Conference on Vehicle Technology and Intelligent Transport Systems
dc.conference.seriesshortcut
VEHITS
dc.conference.shortcut
VEHITS 2024
dc.conference.weblink
https://vehits.scitevents.org/?y=2024
dc.contributor.author
Duraj, Lech - 133967
dc.contributor.author
Herman, Grzegorz - 186388
dc.contributor.editor
Vinel, Alexey
dc.contributor.editor
Ploeg, Jeroen
dc.contributor.editor
Berns, Karsten
dc.contributor.editor
Gusikhin, Oleg
dc.date.accession
2024-10-02
dc.date.accessioned
2024-10-03T10:19:23Z
dc.date.available
2024-10-03T10:19:23Z
dc.date.issued
2024
dc.date.openaccess
0
dc.description.accesstime
w momencie opublikowania
dc.description.additional
Książka ma DOI: 10.5220/0000186800003702
dc.description.conftype
international
dc.description.physical
437-443
dc.description.series
VEHITS
dc.description.seriesnumber
1
dc.description.version
ostateczna wersja wydawcy
dc.identifier.bookweblink
https://www.scitepress.org/ProceedingsDetails.aspx?ID=EtJwIyhqbLs=&t=1
dc.identifier.doi
10.5220/0012722500003702
dc.identifier.isbn
978-989-758-703-0
dc.identifier.seriesissn
2184-495X
dc.identifier.uri
https://ruj.uj.edu.pl/handle/item/449850
dc.identifier.weblink
https://www.scitepress.org/Link.aspx?doi=10.5220/0012722500003702
dc.language
eng
dc.language.container
eng
dc.place
Setúbal
dc.place
Portugal
dc.publisher
SciTePress
dc.rights
Dodaję tylko opis bibliograficzny
dc.rights.licence
CC-BY-NC-ND
dc.share.type
otwarte repozytorium
dc.subject.en
pricing strategy
dc.subject.en
dynamic pricing
dc.subject.en
ride sharing
dc.subject.en
dial-a-ride
dc.subtype
ConferenceProceedings
dc.title
Dynamic prices in ride-sharing scenarios
dc.title.container
Proceedings of the 10th International Conference on Vehicle Technology and Intelligent Transport Systems
dc.type
BookSection
dspace.entity.typeen
Publication
Affiliations
Wydział Matematyki i Informatyki
Duraj, Lech
computer and information sciences
Herman, Grzegorz
computer and information sciences
No affiliation
Vinel, Alexey
Ploeg, Jeroen
Berns, Karsten
Gusikhin, Oleg

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