Dynamic pricing model for cruising taxicab based on system dynamics

The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab p...
Ausführliche Beschreibung

Gespeichert in:

Autor*in:	Yu-Ming Jin [verfasserIn] Xiao-Fei Ye [verfasserIn] Wen-Li Liu [verfasserIn] Tao Wang [verfasserIn] Haizhong Wang [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch

Erschienen:	2019

Übergeordnetes Werk:	In: Advances in Mechanical Engineering - SAGE Publishing, 2009, 11(2019)
Übergeordnetes Werk:	volume:11 ; year:2019

Links:	Link aufrufen Link aufrufen Link aufrufen Journal toc

DOI / URN:	10.1177/1687814019827111

Katalog-ID:	DOAJ012457566

Internformat


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520			\|a The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness.
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spelling	10.1177/1687814019827111 doi (DE-627)DOAJ012457566 (DE-599)DOAJbc9df24a2ad944e0965d826f4fa17704 DE-627 ger DE-627 rakwb eng TJ1-1570 Yu-Ming Jin verfasserin aut Dynamic pricing model for cruising taxicab based on system dynamics 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness. Mechanical engineering and machinery Xiao-Fei Ye verfasserin aut Wen-Li Liu verfasserin aut Tao Wang verfasserin aut Haizhong Wang verfasserin aut In Advances in Mechanical Engineering SAGE Publishing, 2009 11(2019) (DE-627)603487076 (DE-600)2501620-9 16878140 nnns volume:11 year:2019 https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/article/bc9df24a2ad944e0965d826f4fa17704 kostenfrei https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/toc/1687-8140 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_2027 GBV_ILN_2706 GBV_ILN_2707 GBV_ILN_2890 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 11 2019
allfields_unstemmed	10.1177/1687814019827111 doi (DE-627)DOAJ012457566 (DE-599)DOAJbc9df24a2ad944e0965d826f4fa17704 DE-627 ger DE-627 rakwb eng TJ1-1570 Yu-Ming Jin verfasserin aut Dynamic pricing model for cruising taxicab based on system dynamics 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness. Mechanical engineering and machinery Xiao-Fei Ye verfasserin aut Wen-Li Liu verfasserin aut Tao Wang verfasserin aut Haizhong Wang verfasserin aut In Advances in Mechanical Engineering SAGE Publishing, 2009 11(2019) (DE-627)603487076 (DE-600)2501620-9 16878140 nnns volume:11 year:2019 https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/article/bc9df24a2ad944e0965d826f4fa17704 kostenfrei https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/toc/1687-8140 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_2027 GBV_ILN_2706 GBV_ILN_2707 GBV_ILN_2890 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 11 2019
allfieldsGer	10.1177/1687814019827111 doi (DE-627)DOAJ012457566 (DE-599)DOAJbc9df24a2ad944e0965d826f4fa17704 DE-627 ger DE-627 rakwb eng TJ1-1570 Yu-Ming Jin verfasserin aut Dynamic pricing model for cruising taxicab based on system dynamics 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness. Mechanical engineering and machinery Xiao-Fei Ye verfasserin aut Wen-Li Liu verfasserin aut Tao Wang verfasserin aut Haizhong Wang verfasserin aut In Advances in Mechanical Engineering SAGE Publishing, 2009 11(2019) (DE-627)603487076 (DE-600)2501620-9 16878140 nnns volume:11 year:2019 https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/article/bc9df24a2ad944e0965d826f4fa17704 kostenfrei https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/toc/1687-8140 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_2027 GBV_ILN_2706 GBV_ILN_2707 GBV_ILN_2890 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 11 2019
allfieldsSound	10.1177/1687814019827111 doi (DE-627)DOAJ012457566 (DE-599)DOAJbc9df24a2ad944e0965d826f4fa17704 DE-627 ger DE-627 rakwb eng TJ1-1570 Yu-Ming Jin verfasserin aut Dynamic pricing model for cruising taxicab based on system dynamics 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness. Mechanical engineering and machinery Xiao-Fei Ye verfasserin aut Wen-Li Liu verfasserin aut Tao Wang verfasserin aut Haizhong Wang verfasserin aut In Advances in Mechanical Engineering SAGE Publishing, 2009 11(2019) (DE-627)603487076 (DE-600)2501620-9 16878140 nnns volume:11 year:2019 https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/article/bc9df24a2ad944e0965d826f4fa17704 kostenfrei https://doi.org/10.1177/1687814019827111 kostenfrei https://doaj.org/toc/1687-8140 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_2027 GBV_ILN_2706 GBV_ILN_2707 GBV_ILN_2890 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 11 2019
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callnumber-first	T - Technology
author	Yu-Ming Jin
spellingShingle	Yu-Ming Jin misc TJ1-1570 misc Mechanical engineering and machinery Dynamic pricing model for cruising taxicab based on system dynamics
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topic_title	TJ1-1570 Dynamic pricing model for cruising taxicab based on system dynamics
topic	misc TJ1-1570 misc Mechanical engineering and machinery
topic_unstemmed	misc TJ1-1570 misc Mechanical engineering and machinery
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title	Dynamic pricing model for cruising taxicab based on system dynamics
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title_full	Dynamic pricing model for cruising taxicab based on system dynamics
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title_sort	dynamic pricing model for cruising taxicab based on system dynamics
callnumber	TJ1-1570
title_auth	Dynamic pricing model for cruising taxicab based on system dynamics
abstract	The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness.
abstractGer	The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness.
abstract_unstemmed	The cruising taxi industry has been greatly impacted by the development of the ride-hailing taxi services like the Didi and Uber. The service orders of cruising taxis fell 35% or more. To intervene the conflicts between the cruising and ride-hailing taxis, system dynamics model of cruising taxicab price was proposed by considering the competitive relationships between online ride-hailing and cruising taxis. The proposed model was calibrated and validated by the taxi operational data in Ningbo. Simulation experiments were designed to explore the impact of the cruising taxi price changes on the balance of market supply and demand. Simulations were divided into two scenarios: one was under the different levels of supply and demand at peak and low peak; the other was under the different proportions of ride-hailing taxi. The results indicate that (1) the market supply and demand are close to equilibrium during peak hours when the price increases by ¥0.6 per kilometer. The increased price can reduce the peak demand level effectively and also increase the total earning of cruising taxis; (2) when the service order ratio of cruising taxis to ride-hailing taxis accounts for about 10:4.5 and 10:8, the price increases by ¥0.6 per kilometer and decreases by ¥0.4 per kilometer to achieve the equilibrium of demand and supply, respectively. That is, when the cruising taxis have an advantage over the ride-hailing taxis, the price of cruising taxis should be raised to gain more benefits. Instead, the cruising taxis price should be decreased to improve their competitiveness.
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title_short	Dynamic pricing model for cruising taxicab based on system dynamics
url	https://doi.org/10.1177/1687814019827111 https://doaj.org/article/bc9df24a2ad944e0965d826f4fa17704 https://doaj.org/toc/1687-8140
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author2	Xiao-Fei Ye Wen-Li Liu Tao Wang Haizhong Wang
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Dynamic pricing model for cruising taxicab based on system dynamics

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