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Equilibrium properties of taxi markets with search frictions

机译:带有搜索摩擦的出租车市场的均衡性质

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The equilibrium properties of an aggregate taxi market are investigated using a general bilateral searching and meeting function which characterizes the search frictions between vacant taxis and unserved customers. Three specific issues are analyzed for meeting functions that exhibit increasing, constant and decreasing returns to scale. Firstly, service quality in terms of customer wait/search time and average profit per taxi are examined jointly in relation to taxi fleet size, and a Pareto-improving win-win situation is identified, where an increase in taxi fleet size leads to improvements in both service quality and market profitability. Such a Pareto-improving situation is found to emerge if and only if the meeting functions show increasing returns to scale. Secondly, the properties of the socially optimal solution are examined. It is found that the taxi fleet size should be chosen such that the total cost of operating vacant taxis equals the total cost of customer waiting time multiplied by an asymmetric factor of the meeting function, and that taxi services should be subsidized at social optimum only when the meeting functions show increasing returns to scale. Thirdly, the Pareto-efficient services are examined for trade-offs between social welfare and profits in the light of partially conflicting objectives of the public sector and the private taxi firms using a bi-objective maximization approach. The taxi utilization rate and the customer wait/search time or service quality are proved to be constant along the Pareto frontier and equal to those at social optimum if the meeting functions show constant returns to scale. Extensions are made to the cases with increasing and decreasing returns to scale.
机译:使用通用的双边搜索和满足函数来研究总体出租车市场的均衡特性,该函数描述了空出租车和无服务客户之间的搜索摩擦。分析了满足功能的三个具体问题,这些功能表现出规模收益的递增,不变和递减。首先,结合出租车队规模来考察客户等待/搜索时间和每辆出租车平均利润方面的服务质量,并确定了帕累托改进的双赢局面,出租车队规模的增加导致了出租车的改进。服务质量和市场盈利能力。当且仅当会议职能显示规模报酬增加时,才出现出现这种帕累托改进的情况。其次,研究了社会最优解的性质。发现应选择出租车车队的大小,以使空出租车的总运营成本等于客户等待时间的总成本乘以会议功能的不对称因素,并且只有在以下情况下才应以社会最优的方式对出租车服务进行补贴:会议功能显示出规模收益不断增加。第三,根据公共部门和私人出租车公司的目标存在部分矛盾,使用双目标最大化方法来检验帕累托效率服务在社会福利和利润之间的取舍。如果会议功能显示规模收益不变,那么出租车的使用率和客户等待/搜索时间或服务质量在帕累托边界就被证明是恒定的,并且与社会最优状态下的那些相​​等。扩展到规模收益递增和递减的情况。

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