Smart Computing- Book ISBN- 978-81-953658-1-4

Authors:- Praveen Kumar, Gokul Modi, Surendra Singh, Rohan Choksey, Bipin Chaudhary

Abstract :-Ride-sharing (RS) has great value in saving energy and alleviating traffic pressure. Existing studies can be improved for better efficiency. Therefore, we propose a new ride-sharing model, where each driver has a requirement that if the driver shares a ride with a rider, the shared route percentage exceeds the expected rate of the driver. Customers are both price and delay-sensitive, and drivers are strategic and self-scheduling. We prove that optimizing the matching decisions have a first-order effect on the system performance. We show that fixing the matching decisions and optimizing only the pricing decisions does not generally maximize matchings.

Similarly, we show that fixing the pricing decisions and optimizing only the matching decisions is not optimal in general. Finally, we show that optimizing in only one dimension (either pricing or matching) has no benefit to the firm under some conditions. In contrast, joint pricing and matching optimization can lead to a significant performance increase.

Keywords: - Vehicles, Roads, Real-time ride-sharing, Machine Learning, Recommender System, Dynamic Pricing.