SWUTC Ph.D. Candidate Assistantship Project Description
Mechanism Design for Ridesharing Services
University: Texas A&M University
Principal Investigator:
Wei Lu
Zachry Department of Civil Engineering
(979) 845-5674
Faculty Supervisor:
Luca Quadrifoglio
Zachry Department of Civil Engineering
(979) 458-4171
Funding Source: USDOT Funds
Total Project Cost: $36,279
Project Number: 600451-00034
Date Started: 9/1/13
Estimated Completion Date: 12/31/14
Project Summary
Project Abstract:
E ffective usage of ridesharing can potentially increase occupancy rates. There are some existing efforts in ridesharing systems. However, these systems are not convenient enough to compete with private cars as potential passengers are having diffiiculty in getting a shared ride. The reason is that these systems fail to provide incentives to attract more drivers to participate. Our proposed solution is to introduce auction-based mechanism into the ridesharing system to boost the probability of successful matches between drivers and passengers. The successful practice of mechanism design has been seen in the online advertisement industry and other multi-billion businesses.
Project Objectives:
The goal of this research is to make ridesharing an economically, environmentally, and socially sustainable transportation solution.
Task Descriptions:
Task 1– Literature Review
Task 2– Computationally Efficient VCG-based Payment Mechanisms Design
Task 3– Budget-balancing and Optimal Mechanism Design
Task 4– Build Simulation Models
Task 5 – Document the Dissertation and Final Report