Danna Chen , Yong-Wu Zhou , Xiaogang Lin , Kangning Jin
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We find that both customers’ and providers’ bounded rationalities may benefit the platform. Specifically, when customers’ or providers’ bounded rationality level and service valuation are relatively large or the valuation is relatively small, more irrational customers or providers increases the platform’s profit. Moreover, we find that the platform can exploit the bounded rationality differences between customers and providers to gain profit. Counterintuitively, we also demonstrate that the high bounded rationality of customers or providers may increase consumer surplus and/or labor welfare. Finally, bounded rationality on one side (e.g., customer side) can make bounded rationality on the other side (e.g., provider side) more likely to increase the platform’s profit, consumer surplus, or labor welfare under certain conditions.</p></div>","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":null,"pages":null},"PeriodicalIF":6.0000,"publicationDate":"2024-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Customer and provider bounded rationality in on-demand service platforms\",\"authors\":\"Danna Chen , Yong-Wu Zhou , Xiaogang Lin , Kangning Jin\",\"doi\":\"10.1016/j.ejor.2024.08.013\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The growing literature on operations management in the context of the sharing economy typically assumes that both customers and providers are fully rational. In contrast, we consider an on-demand service platform (e.g., Didi and Uber) with boundedly rational customers and providers that sets a price charged to customers and a wage paid to providers. Both customers and providers are sensitive to the payment terms set by the platform and also to congestion in the system (given by the relative numbers of available customers and providers in the market). We capture bounded rationality using a model in which customers and providers are incapable of accurately estimating the congestion level. We examine the impact of bounded rationality on the platform profit, consumer surplus, and labor welfare. We find that both customers’ and providers’ bounded rationalities may benefit the platform. Specifically, when customers’ or providers’ bounded rationality level and service valuation are relatively large or the valuation is relatively small, more irrational customers or providers increases the platform’s profit. Moreover, we find that the platform can exploit the bounded rationality differences between customers and providers to gain profit. Counterintuitively, we also demonstrate that the high bounded rationality of customers or providers may increase consumer surplus and/or labor welfare. Finally, bounded rationality on one side (e.g., customer side) can make bounded rationality on the other side (e.g., provider side) more likely to increase the platform’s profit, consumer surplus, or labor welfare under certain conditions.</p></div>\",\"PeriodicalId\":55161,\"journal\":{\"name\":\"European Journal of Operational Research\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":6.0000,\"publicationDate\":\"2024-08-17\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"European Journal of Operational Research\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0377221724006362\",\"RegionNum\":2,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"OPERATIONS RESEARCH & MANAGEMENT SCIENCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Journal of Operational Research","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0377221724006362","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"OPERATIONS RESEARCH & MANAGEMENT SCIENCE","Score":null,"Total":0}
Customer and provider bounded rationality in on-demand service platforms
The growing literature on operations management in the context of the sharing economy typically assumes that both customers and providers are fully rational. In contrast, we consider an on-demand service platform (e.g., Didi and Uber) with boundedly rational customers and providers that sets a price charged to customers and a wage paid to providers. Both customers and providers are sensitive to the payment terms set by the platform and also to congestion in the system (given by the relative numbers of available customers and providers in the market). We capture bounded rationality using a model in which customers and providers are incapable of accurately estimating the congestion level. We examine the impact of bounded rationality on the platform profit, consumer surplus, and labor welfare. We find that both customers’ and providers’ bounded rationalities may benefit the platform. Specifically, when customers’ or providers’ bounded rationality level and service valuation are relatively large or the valuation is relatively small, more irrational customers or providers increases the platform’s profit. Moreover, we find that the platform can exploit the bounded rationality differences between customers and providers to gain profit. Counterintuitively, we also demonstrate that the high bounded rationality of customers or providers may increase consumer surplus and/or labor welfare. Finally, bounded rationality on one side (e.g., customer side) can make bounded rationality on the other side (e.g., provider side) more likely to increase the platform’s profit, consumer surplus, or labor welfare under certain conditions.
期刊介绍:
The European Journal of Operational Research (EJOR) publishes high quality, original papers that contribute to the methodology of operational research (OR) and to the practice of decision making.