A two-stage approach to modeling vacant taxi movements
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TLDR
The results demonstrate that the proposed model formulation offers a great improvement in terms of root mean square error as compared with the existing taxi customer-search models, and show the model capabilities of predicting the changes in vacant taxi trip distributions with respect to the variations in the fleet size and fare.Abstract:
In this paper, a two-stage modeling approach is proposed to predict vacant taxi movements in searching for customers. The taxi movement problem is formulated into a two-stage model that consists of two sub-models, namely the first and second stage sub-models. The first stage sub-model estimates the zone choice of vacant taxi drivers for customer-search and the second stage sub-model determines the circulation time and distance of vacant taxi drivers in each zone by capturing their local customer-search decisions in a cell-based network within the zone chosen in the first stage sub-model. These two sub-models are designed to influence each other, and hence an iterative solution procedure is introduced to solve for a convergent solution. The modeling concept, advantages, and applications are illustrated by the global positioning system data of 460 Hong Kong urban taxis. The results demonstrate that the proposed model formulation offers a great improvement in terms of root mean square error as compared with the existing taxi customer-search models, and show the model capabilities of predicting the changes in vacant taxi trip distributions with respect to the variations in the fleet size and fare. Potential taxi policies are investigated and discussed according to the findings to provide insights in managing the Hong Kong taxi market.read more
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References
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TL;DR: In this article, a network model is used to describe the demand and supply equilibrium of taxi services under fare structure and fleet size regulation in an either competitive or monopoly market, and the spatial structure of the market such as the form of road network and the customer origin-destination demand pattern are explicitly considered.
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A network model of urban taxi services
Hai Yang,Sze Chun Wong +1 more
TL;DR: The model offers some interesting insights into the nature of the equilibrium of taxi services, and offers some policy-relevant results for decision making, including the findings that the average taxi utilization decreases sharply with the number of taxis operating, and that the higher the taxi utilization, the larger the average customer waiting time.
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Taxi Travel Should Be Subsidized
TL;DR: In a first best environment, taxi travel should be subsidised as discussed by the authors, which derives from economies of density, doubling trips and taxis reducing waiting time, and the subsidy should cover the shadow cost of taxis' idle time, evaluated at the optimum.