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Article: Equilibria of bilateral taxi-customer searching and meeting on networks
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TitleEquilibria of bilateral taxi-customer searching and meeting on networks
 
AuthorsYang, H3
Leung, CWY3
Wong, SC1
Bell, MGH2
 
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
 
CitationTransportation Research Part B: Methodological, 2010, v. 44 n. 8-9, p. 1067-1083 [How to Cite?]
DOI: http://dx.doi.org/10.1016/j.trb.2009.12.010
 
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.
 
ISSN0191-2615
2012 Impact Factor: 2.944
2012 SCImago Journal Rankings: 3.080
 
DOIhttp://dx.doi.org/10.1016/j.trb.2009.12.010
 
ISI Accession Number IDWOS:000280385800010
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.

 
ReferencesReferences in Scopus
 
DC FieldValue
dc.contributor.authorYang, H
 
dc.contributor.authorLeung, CWY
 
dc.contributor.authorWong, SC
 
dc.contributor.authorBell, MGH
 
dc.date.accessioned2010-10-31T10:22:58Z
 
dc.date.available2010-10-31T10:22:58Z
 
dc.date.issued2010
 
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.
 
dc.description.natureLink_to_subscribed_fulltext
 
dc.identifier.citationTransportation Research Part B: Methodological, 2010, v. 44 n. 8-9, p. 1067-1083 [How to Cite?]
DOI: http://dx.doi.org/10.1016/j.trb.2009.12.010
 
dc.identifier.citeulike6640758
 
dc.identifier.doihttp://dx.doi.org/10.1016/j.trb.2009.12.010
 
dc.identifier.epage1083
 
dc.identifier.hkuros180215
 
dc.identifier.isiWOS:000280385800010
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.

 
dc.identifier.issn0191-2615
2012 Impact Factor: 2.944
2012 SCImago Journal Rankings: 3.080
 
dc.identifier.issue8-9
 
dc.identifier.openurl
 
dc.identifier.scopuseid_2-s2.0-77954457319
 
dc.identifier.spage1067
 
dc.identifier.urihttp://hdl.handle.net/10722/124241
 
dc.identifier.volume44
 
dc.languageeng
 
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb
 
dc.publisher.placeUnited Kingdom
 
dc.relation.ispartofTransportation Research Part B: Methodological
 
dc.relation.referencesReferences in Scopus
 
dc.subjectCompetitive equilibria
 
dc.subjectMarket friction
 
dc.subjectMeeting function
 
dc.subjectTaxi industry
 
dc.subjectTraffic network
 
dc.titleEquilibria of bilateral taxi-customer searching and meeting on networks
 
dc.typeArticle
 
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Author Affiliations
  1. The University of Hong Kong
  2. Imperial College London
  3. Hong Kong University of Science and Technology