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Operations Research, Systems Engineering and Industrial Engineering Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Multiobjective Stochastic Optimization: A Case Of Real-Time Matching In Ride-Sourcing Markets, Guodong Lyu, Wang Chi Cheung, Chung-Piaw Teo, Hai Wang
Multiobjective Stochastic Optimization: A Case Of Real-Time Matching In Ride-Sourcing Markets, Guodong Lyu, Wang Chi Cheung, Chung-Piaw Teo, Hai Wang
Research Collection School Of Computing and Information Systems
Problem Definition: The job of any marketplace is to facilitate the matching of supply with demand in real-time. Success is often measured using various metrics. The challenge is to design matching algorithms to balance the trade-offs among multiple objectives in a stochastic environment, to arrive at a “compromise” solution, which minimizes say the ℓp-norm-based distance function (for some 1 ≤p ≤∞) between the attained performance metrics and the target performances.Methodology/Results: We observe that the sample-average-approximation formulation of this multi-objective stochastic optimization problem can be solved by an online algorithm that uses only gradient information from “historical” (i.e., past) sample information, …
Competition And Third-Party Platform-Integration In Ride-Sourcing Markets, Yaqian Zhou, Hai Yang, Jintao Ke, Hai Wang, Xinwei Li
Competition And Third-Party Platform-Integration In Ride-Sourcing Markets, Yaqian Zhou, Hai Yang, Jintao Ke, Hai Wang, Xinwei Li
Research Collection School Of Computing and Information Systems
Recently, some third-party integrators attempt to integrate the ride services offered by multiple independent ride-sourcing platforms. Accordingly, passengers can request ride through the integrators and receive ride service from any one of the ride-sourcing platforms. This novel business model, termed as third-party platform-integration in this work, has potentials to alleviate market fragmentation cost resulting from demand splitting among multiple platforms. Although most existing studies focus on operation strategies for one single monopolist platform, much less is known about the competition and platform-integration and their implications on operation strategy and system efficiency. In this work, we propose mathematical models to describe …
Integrated Reward Scheme And Surge Pricing In A Ride-Sourcing Market, Hai Yang, Chaoyi Shao, Hai Wang, Jieping Ye
Integrated Reward Scheme And Surge Pricing In A Ride-Sourcing Market, Hai Yang, Chaoyi Shao, Hai Wang, Jieping Ye
Research Collection School Of Computing and Information Systems
Surge pricing is commonly used in on-demand ride-sourcing platforms (e.g., Uber, Lyft and Didi) to dynamically balance demand and supply. However, since the price for ride service cannot be unlimited, there is usually a reasonable or legitimate range of prices in practice. Such a constrained surge pricing strategy fails to balance demand and supply in certain cases, e.g., even adopting the maximum allowed price cannot reduce the demand to an affordable level during peak hours. In addition, the practice of surge pricing is controversial and has stimulated long debate regarding its pros and cons. To address the limitation of current …