Highlights P2P ridesharing market with role flexibility is modeled as a roommate problem. P2P ridesharing market with role flexibility may not admit a stable outcome. A minimum subsidy problem is proposed to stabilize the P2PRM. The minimum subsidy is bounded by the integrality gap from below. The minimum subsidy is bounded by the minimum blocking value from above.
Abstract Peer-to-peer (P2P) ridesharing is a form of shared-use mobility that has emerged in recent decades as a result of enabling of the sharing economy, and the advancement of new technologies that allow for easy and fast communication between individuals. A P2P ridesharing system provides a platform to match a group of drivers, who use their personal vehicles to travel, with their peer riders who are in need of transportation. P2P ridesharing systems are traditionally categorized as two-side markets, with two mutually exclusive sets of agents, i.e., riders and drivers. Fixing the roles of participants a priori, however, could come at an opportunity cost of missed social welfare/revenue for the system. Consequently, this paper proposes a new market game, and its corresponding mathematical formulation, that outputs matching, role assignment, and pricing. We investigate the stability properties of this market game, and present a mathematical formulation that yields a stable outcome if one exists. Furthermore, we propose a Lagrangian relaxation algorithm to obtain a stable solution for large-scale games with empty cores through subsidizing the system. Using numerical experiments, we demonstrate the benefits of the proposed methodology, and its advantages over previously proposed methods for stabilizing non-bipartite graphs.
Using subsidies to stabilize peer-to-peer ridesharing markets with role assignment
2020-08-20
Article (Journal)
Electronic Resource
English
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