Work

Optimizing Taxi-Pooling Operations to Enhance Efficiency and Revenue: A Queuing Model Approach

Year: 2024

Type: article

Abstract: This study investigates the optimization of taxi-pooling operations using the M/M/1/m queuing model, aiming to enhance efficiency and revenue for taxi service platforms. Traditional taxi operations face challenges during peak periods, including inefficiency and increased operational costs. Taxi-pooling, by accommodating multiple passengers with similar travel demands, offers a solution that reduces travel costs, operational expenses, and urban congestion. The study develops an optimization model to balance operational costs and passenger waiting times, identifying the utilization rate of taxis as a critical factor in platform revenue. By modeling the taxi-pooling service as a queuing system, we derive mathematical expressions for passenger waiting times and platform revenue under varying conditions. Our findings highlight the importance of optimal vehicle investment strategies and pricing decisions to maximize revenue. The study provides theoretical support for improving taxi-pooling platforms’ efficiency and competitiveness, contributing to better urban transportation solutions.

Source: Mathematics

DOI: 10.3390/math12203210

Authors: Chaojun Wang, Jingwei Wang, Yi Zhang, Jairus Odawa Malenje, Yin Han

Institutions: University of Shanghai for Science and Technology, Huai'an University, Masinde Muliro University of Science and Technology

Language: English

Topic: Transportation and Mobility Innovations

Subfield: Automotive Engineering

Field: Engineering

Domain: Physical Sciences

SDGs: Sustainable cities and communities, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $2,955