Matching and Dynamic Pricing in Ride-Hailing Platforms

Channel:
Microsoft Research
Subscribers:
344,000
Published on ● Video Link: https://www.youtube.com/watch?v=cddFAgRyxQ0


Duration: 1:04:54
23,283 views
385

Ride-hailing platforms like Uber, Lyft, Didi Chuxing, and Ola are transforming urban mobility by connecting riders with drivers via the sharing economy. These platforms have achieved explosive growth, in part by dramatically improving the efficiency of matching, and by calibrating the balance of supply and demand through dynamic pricing. We survey methods for matching and dynamic pricing in ride-hailing, and discuss machine learning and statistical approaches used to predict key inputs into those algorithms: demand, supply, and travel time in the road network.

The dynamic adjustment of prices ensures a reliable service for riders, and incentivizes drivers to provide rides at peak times and locations. Dynamic pricing is particularly important for ride-hailing, because pricing too low causes pickup ETAs to get very long, which reduces the efficiency of the platform and provides a poor experience for riders and drivers. Pricing and matching are intimately connected; we show that flexing wait time for riders during high-demand time periods can reduce the price variability caused by dynamic pricing.

See more at https://www.microsoft.com/en-us/research/video/matching-dynamic-pricing-ride-hailing-platforms/



Other Videos By Microsoft Research


2018-06-05Microsoft tests Project Natick, self-sustaining underwater datacenter
2018-06-05Fireside Chat with Dawn Woodard
2018-05-29AI and Our Future With Machines with Dr. Eric Horvitz
2018-05-29Snippets from the Revolution – An Interview with Dr. Jaime Teevan
2018-05-29PNW PLSE Workshop: Helping Designers Explore the Space of Layout Variations with Constraints
2018-05-29NW-NLP 2018: Annotation Artifacts in Natural Language Inference Data
2018-05-29Unsupervised Discovery of Objects and their Interactions for Common-Sense Physical Reasoning
2018-05-29NW-NLP 2018: Ben Taskar Invited Talk; Learning and Reasoning about the World using Language
2018-05-29Towards Autonomous AI-based Measurement Systems
2018-05-29NW-NLP 2018: Compositional Language Modeling for Icon-Based Augmentative & Alternative Communication
2018-05-28Matching and Dynamic Pricing in Ride-Hailing Platforms
2018-05-28Cryptographic Program Obfuscation: Current Capabilities and Challenges
2018-05-28On Gradient-Based Optimization: Accelerated, Stochastic and Nonconvex
2018-05-28NW-NLP 2018: Adverbial Clausal Modifiers in the LinGO Grammar Matrix
2018-05-23Advancing Accessibility with Dr. Meredith Ringel Morris
2018-05-18ISCA 2018 Lightning Talk: Project Brainwave
2018-05-16Not Lost in Translation with Arul Menezes
2018-05-15Clouds, catapults and life after the end of Moore’s Law with Dr. Doug Burger
2018-05-15Machine learning and the incredible flying robot with Dr. Ashish Kapoor
2018-05-15Brokering Peace Talks in the Networking and Storage Arms Race with Dr. Anirudh Badam
2018-05-15Tiny Functions for Codecs, Compilation, and (maybe) soon Everything


Tags:
microsoft research