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Article: Equilibria of bilateral taxi-customer searching and meeting on networks

TitleEquilibria of bilateral taxi-customer searching and meeting on networks
Authors
KeywordsCompetitive equilibria
Market friction
Meeting function
Taxi industry
Traffic network
Issue Date2010
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb
Citation
Transportation Research Part B: Methodological, 2010, v. 44 n. 8-9, p. 1067-1083 How to Cite?
AbstractThis paper proposes an equilibrium model to characterize the bilateral searching and meeting between customers and taxis on road networks. A taxi driver searches or waits for a customer by considering both the expected searching or waiting time cost and ride revenue, and a customer seeks a taxi ride to minimize full trip price. We suppose that the bilateral taxi-customer searching and meeting occurs anywhere in residential and commercial zones or at prescribed taxi stands, such as an airport or a railway station. We propose a meeting function to spell out the search and meeting frictions that arise endogenously as a result of the distinct spatial feature of the area and the taxi-customer moving decisions. With the proposed meeting function and the assumptions underlying taxi-customer search behaviors, the stationary competitive equilibrium achieved at fixed fare prices is determined when the demand of the customers matches the supply of taxis or there is market clearing at the prevailing searching and waiting times in every meeting location. We establish the existence of such an equilibrium by virtue of Brouwer's fixed-point theorem and demonstrate its principal operational characteristics with a numerical example. © 2009 Elsevier Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/124241
ISSN
2014 Impact Factor: 2.952
2013 SCImago Journal Rankings: 3.306
ISI Accession Number ID
Funding AgencyGrant Number
Research Grants Council of the Hong Kong Special Administrative Region, ChinaRGC HKUST 6212/07E
Funding Information:

The research described in this paper was supported by a Grant from the Research Grants Council of the Hong Kong Special Administrative Region, China (Project No. RGC HKUST 6212/07E) The authors wish to express their thanks to an enthusiastic anonymous reviewer, whose constructive and insightful comments have significantly improved the exposition of the paper. Thanks also go to K.I. Wong for his earlier assistance with the computer code used in the computation.

References

 

DC FieldValueLanguage
dc.contributor.authorYang, Hen_HK
dc.contributor.authorLeung, CWYen_HK
dc.contributor.authorWong, SCen_HK
dc.contributor.authorBell, MGHen_HK
dc.date.accessioned2010-10-31T10:22:58Z-
dc.date.available2010-10-31T10:22:58Z-
dc.date.issued2010en_HK
dc.identifier.citationTransportation Research Part B: Methodological, 2010, v. 44 n. 8-9, p. 1067-1083en_HK
dc.identifier.issn0191-2615en_HK
dc.identifier.urihttp://hdl.handle.net/10722/124241-
dc.description.abstractThis paper proposes an equilibrium model to characterize the bilateral searching and meeting between customers and taxis on road networks. A taxi driver searches or waits for a customer by considering both the expected searching or waiting time cost and ride revenue, and a customer seeks a taxi ride to minimize full trip price. We suppose that the bilateral taxi-customer searching and meeting occurs anywhere in residential and commercial zones or at prescribed taxi stands, such as an airport or a railway station. We propose a meeting function to spell out the search and meeting frictions that arise endogenously as a result of the distinct spatial feature of the area and the taxi-customer moving decisions. With the proposed meeting function and the assumptions underlying taxi-customer search behaviors, the stationary competitive equilibrium achieved at fixed fare prices is determined when the demand of the customers matches the supply of taxis or there is market clearing at the prevailing searching and waiting times in every meeting location. We establish the existence of such an equilibrium by virtue of Brouwer's fixed-point theorem and demonstrate its principal operational characteristics with a numerical example. © 2009 Elsevier Ltd.en_HK
dc.languageengen_HK
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trben_HK
dc.relation.ispartofTransportation Research Part B: Methodologicalen_HK
dc.subjectCompetitive equilibriaen_HK
dc.subjectMarket frictionen_HK
dc.subjectMeeting functionen_HK
dc.subjectTaxi industryen_HK
dc.subjectTraffic networken_HK
dc.titleEquilibria of bilateral taxi-customer searching and meeting on networksen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0191-2615&volume=44&spage=1067&epage=1083&date=2010&atitle=Equilibria+of+bilateral+taxi-customer+searching+and+meeting+on+networksen_HK
dc.identifier.emailWong, SC:hhecwsc@hku.hken_HK
dc.identifier.authorityWong, SC=rp00191en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.trb.2009.12.010en_HK
dc.identifier.scopuseid_2-s2.0-77954457319en_HK
dc.identifier.hkuros180215en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-77954457319&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume44en_HK
dc.identifier.issue8-9en_HK
dc.identifier.spage1067en_HK
dc.identifier.epage1083en_HK
dc.identifier.isiWOS:000280385800010-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridYang, H=35249804200en_HK
dc.identifier.scopusauthoridLeung, CWY=36190887800en_HK
dc.identifier.scopusauthoridWong, SC=24323361400en_HK
dc.identifier.scopusauthoridBell, MGH=25822259900en_HK
dc.identifier.citeulike6640758-

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