Academic Activities

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TBSI Greater Bay Area Intellectual Forum Lecture 86丨Research Seminar【Nanshan i-Park】

  1. 报告主题:Regulating Tncs: Should Uber And Lyft Set Their Own Rules?
  2. 报告人:Dr. Sen Li
  3. 主持:

Notice: This lecture is a research seminar for credit.

Time

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Jan 23, 2019 10:30-11:30 a.m.


Abstract

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We consider the problem of regulating transportation network companies (TNC), such as Uber, Lyft and Didi. We focus on two types of regulatory policies: (a) a floor on driver wage; (b) a cap on total number of drivers. The impacts of these policies are analyzed using a queuing theoretic economic model. Our model captures the stochastic dynamics of the marketplace, the pricing of the platform, and the incentives of passengers and drivers. We show that a wage floor on driver earnings will push TNCs to hire more drivers, and passengers will enjoy faster and cheaper rides. In contrast to traditional labor market theory, our study suggests that imposing a wage floor for drivers will benefit both drivers and passengers, promoting the efficiency of the entire ride-hailing system. We prove that this counter-intuitive phenomenon is universal for a large regime of model parameters, and we show that it is mainly because the quality of service (passenger pickup time) improves with the number of drivers. Aside from wage floor, the impact of capping policy is also studied. We show that capping the number of vehicles will hurt drivers, since the platform reaps all the benefits of limiting the supply. We will also discuss variants of our model, with a focus on platform subsidy, platform competition, and autonomous vehicles. 


Speaker's Bio

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Dr. Sen Li is a postdoctoral fellow in the Department of Mechanical Engineering at The University of California, Berkeley, working with Prof. Pravin Varaiya and Prof. Kameshwar Poolla. He received B.S. from Zhejiang University, and Ph.D. from The Ohio State University. Previously, Dr. Li was an intern at Pacific Northwestern National Laboratory, and a visiting student at Harvard University. Dr. Li's research lies in the intersection of control, optimization and game theory with applications in large-scale cyber-physical systems. He is particularly interested in renewable energy integration and intelligent transportation systems. He is a finalist of Best Student Paper Award at 2018 European Control Conference.


Registration

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Professors and students of TBSI are welcome to attend. The lecture is also open to the public. For off-campus personnel, please scan the QR code and and fill in your information (name, company, contact number, ID number). The language of the lecture is English.