Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China

Research Article

Research on Pricing of Parent-Child Shared Bicycles Based on Biogeme

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  • @INPROCEEDINGS{10.4108/eai.9-12-2022.2327723,
        author={Yumin  Ji},
        title={Research on Pricing of Parent-Child Shared Bicycles Based on Biogeme},
        proceedings={Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China},
        publisher={EAI},
        proceedings_a={MSIEID},
        year={2023},
        month={3},
        keywords={traffic engineering; pricing; behavior analysis; shared bicycles; biogeme; monte-carlo integral},
        doi={10.4108/eai.9-12-2022.2327723}
    }
    
  • Yumin Ji
    Year: 2023
    Research on Pricing of Parent-Child Shared Bicycles Based on Biogeme
    MSIEID
    EAI
    DOI: 10.4108/eai.9-12-2022.2327723
Yumin Ji1,*
  • 1: Beijing Jiaotong University
*Contact email: 21120834@bjtu.edu.cn

Abstract

This study conducts a quantitative study on the reasonable pricing of parent-child shared bicycles. First of all, this study carried out a field SP (stated preference) survey in Beijing; secondly, on the basis of considering individual heterogeneity, this paper constructs the RPL (random parameters logit) model containing attitude latent variables, characterizes the latent variables with an ordered probit model, and uses PandasBiogeme software to compile a quasi-Newton algorithm and calibrate parameters; thirdly, this paper establishes a pricing model to maximize the revenue of parent-child bike sharing operator; finally, this paper uses the survey data as a representative, and uses Monte Carlo integration method to solve the model on Matlab software through sample expansion. The research results show that when the price of parent-child shared bicycle in Beijing is 1.97 yuan, the operator's revenue is the largest. At this time, 29.09% of children's parents adopt parent-child shared bicycle. The results also provide a reference for the bicycles' delivery at different pick-up distances.