Reference : Systematic Analysis and Modelling of Profit Maximization on Carsharing
Scientific congresses, symposiums and conference proceedings : Poster
Engineering, computing & technology : Multidisciplinary, general & others
Sustainable Development
http://hdl.handle.net/10993/47455
Systematic Analysis and Modelling of Profit Maximization on Carsharing
English
[en] Systematic Analysis and Modelling of Profit Maximization on Carsharing
Giorgione, Giulio mailto [University of Luxembourg > Faculty of Science, Technology and Medicine (FSTM) > Department of Engineering (DoE) >]
Kliazovich, Dzmitry mailto []
Bolzani, Luca mailto [University of Luxembourg > Luxembourg Centre for Systems Biomedicine (LCSB) > Bioinformatics Core >]
Ciari, Francesco mailto []
Viti, Francesco mailto [University of Luxembourg > Faculty of Science, Technology and Medicine (FSTM) > Department of Engineering (DoE) >]
2021
Yes
International
Transportation Research Board Annual Meeting
01/2021
[en] Carsharing ; Dynamic Pricing ; MATSim ; Profit Maximization ; Agent-based Simulation
[en] The success of carsharing as a new and more sustainable way of travel is moving private car ownership towards a service use model. Competitivity is an essential aspect of this service and ways to increase profit while offering the most appealing service are still getting explored. Among others, dynamic pricing strategies can be designed to increase profit by attracting more users, selling more rental hours or maximizing fleet utilization. In this paper, we propose an experimental method aimed at developing a model for maximizing service profit. Using agent-based modeling to generate realistic scenarios, we analyze pricing as a function of the potential demand (i.e. number of members) and supply (hours of booking supplied). The process of reaching the maximum profit consists of testing various combinations of pricing - demand and pricing – supply ranges in order to find the price that maximize the profit for every demand and supply level. Once the optimal prices are known, a polynomial fitting and an optimization method are used to generate a function linking all the maximal profit obtaining the advised price to offer for any specific supply levels. Results show how the profit only slightly depends on the variability of the potential demand, while it strongly depends on the amount of supply. It is then shown how it is possible to obtain a linear relation that maximizes the profit in function of the price offered once the supply is known.
Researchers ; Professionals
http://hdl.handle.net/10993/47455
FnR ; FNR11608347 > Giulio Giorgione > STREAMS > Supporting Tool For Empowering Advanced Mobility Services > 01/09/2017 > 31/08/2021 > 2017

File(s) associated to this reference

Fulltext file(s):

FileCommentaryVersionSizeAccess
Open access
Systematic analysis and modeling of profit maximization.pdfPublisher postprint4.87 MBView/Open

Bookmark and Share SFX Query

All documents in ORBilu are protected by a user license.