时间：2019年9月19日（周四）下午14:00-15:30
地点：紫竹国际教育园区（闵行区谈家塘路155号）A1号楼亚欧商学院417会议室
题目：Usage Uncertainty and Pricing Scheme in a Two-sided Market: A Structural Analysis of the Ride-hailing Industry
报告人：缪玮博士 新加坡国立大学商学院
报告摘要：
Due to spatial mismatch and search friction, the conventional taxi business model based on street hailing leads to substantial matching inefficiency. With the advent of geolocation-based mobile apps, ride-hailing firms now can effectively bridge demand and supply via centralized matching technology, and have more flexibility in setting their pricing menus as well. In this paper, we take advantage of an exogenous event that the largest taxi operator in Singapore added an origin-destination-based flat fare option to its existing metered fare option, to empirically examine the the effect of flat rate pricing vis-à-vis usage-based pricing on the outcome of this two-sided marketplace. Specifically, we model taxi drivers’ location choices as a dynamic spatial oligopoly game in which forward-looking drivers decide where to search for passengers given search behaviors of their competitors in the presence of trip uncertainties. We tackle the curse of dimensionality issue by leveraging the large number of agents in the taxi industry and solving for the Oblivious Equilibrium (Weintraub, Benkard, and Van Roy 2008), where taxi drivers' policy functions are based on their beliefs of the transition of the industry average states. We then plug supply estimates into the demand system and recover demand parameters with a parametric aggregate level matching function that accounts for matching inefficiency on street hail trips. We show that drivers are risk-averse on flat fare trips, especially during peak hours when trip uncertainty is higher; riders’ risk aversion on metered trips also grants a risk premium for the flat fare pricing option. Finally, we run two counterfactual experiments to quantify the economic value of risk-aversion presented by both riders and drivers, and evaluate the benefit of the booking system that enables such flat fare. Our findings have important managerial implications for the rapidly expanding ride-hailing industry.
报告人简介：
缪玮是新加坡国立大学商学院营销系数量营销方向的在读博士生，他于2014年从复旦大学获得经济学学士。他的研究兴趣包括数字营销、平台经济学以及激励机制设计；他的研究方法包括经济结构模型以及田野实验等数量方法。在他的宣讲论文中，他构建了一个新颖的动态结构模型，以研究在有不确定性的情况下，乘客与司机如何对不同出租车计价方式进行选择。他的其他研究项目包括研究出租车司机绕路的动机与解决办法，比赛激励机制的设计等等。