On-Demand Resource Sharing Management

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Innovative business models have been built around on-demand access to services and products mediated by online platforms that match many small suppliers or service providers to many small buyers. There are also on-demand business models provided by a single entity to many small buyers. A prominent example of the former type is ride-hailing platforms such as Uber and Lyft that match independent drivers with individual riders. An example of the latter type is vehicle sharing services such as Lime and Zipcar that provide short-term vehicle rentals to individual users. Efficient operations of an on-demand resource sharing system would result in higher social welfare. This proposed study aims to study various types of on-demand resource sharing, each of which has distinguishing features and calls for active management at the operational level so to more efficiently match supply with demand. On-demand service platforms are platforms that connect workers, acting as independent agents, with customers who require a time-sensitive service. Examples of such platforms are many and include, among others, Uber and Lyft for transportation services, Instacart and Postmates for home deliveries, and TaskRabbit and Handy for household tasks. On on-demand service platforms, I propose to study: dynamic two-sided pricing of wage paid to drivers and price paid by riders, joint controls of pricing and matching, and spatial pricing with prices dependent on the travel distance. On-demand rental networks are another important application of on-demand access to products and services that does not rely on individuals for the provisioning of products and servers and does not involve the mediation of a platform. Instead, products and services are provided by a single firm that retains ownership of the underlying resources. However, customers access these products and services as needed, including for brief periods of usage. A prominent example of this business model is vehicle sharing (e.g., the sharing of cars, bikes, and scooters, among others) with vehicles available to customers for short-term rentals. On on-demand rental networks, I propose to study: how best to reposition resources to mitigate the mismatch between supply and demand, and the sizing of a rental network to meet a desired service level. The proposed methodologies involve applying classic settings in economics, mathematics, and operations research into the innovative business applications of on-demand resource sharing. My proposed research is expected to make impacts. First, I expect to have a set of high-quality papers coming out of this research grant, resulting in a deeper understanding of how to match supply and demand efficiently in on-demand resource sharing. Second, I expect the obtained results to influence the current practice and to be potentially tested and implemented by some operating sharing-economy platforms, to improve their operating efficiency for the common good of the society.