Pricing strategy of ride-hailing platform with heterogeneous revenue-sensitive drivers
With the expansion of demand in the ride-hailing service market,various platforms have launched different pricing strategies to attract drivers to join,including price-wage strategy,fixed subsidy strategy,and orders reward strategy.This paper establishes a stylized model based on heterogeneous drivers with revenue-sensitive behavior to analyze and compare the optimal response of drivers and the optimal decision of the ride-hailing platform under the three strate-gies.The study shows that:1)Higher rewards do not necessarily lead to more transactions;2)Although the orders reward strategy can bring more profits to the platform,it still can not obtain more transactions;3)When drivers'opportunity cost is low,the platform should adopt the price-wage strategy,while the opportunity cost is high,the platform should adopt the orders reward strategy to obtain more benefits.Management insights are as follows:If the platform uses incentive strategy,reward does not need to set too high.In third-or fourth-tier cities,the platform can mainly use the price-wage strategy because drivers with low opportunity costs dominate,and in first-or second-tier cities,the platform mainly adopts orders reward strategy because of more drivers with high opportunity costs.
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