Basic Concepts Requester 1T2T3 Goal: platforms set prices to Trip distance d,(km)1.3.7 1 maximize the total revenue! 71 $3/km11,<3 2(6) r3(55 r(15)w735) W2(5) $2/km 3) Decision 3/km*13km=$3:9(1 W 012345678X 2/kmkm=$2(3
Basic Concepts 1 2 3 4 5 1 2 3 4 5 0 X Y 6 7 8 6 7 8 𝒓𝟏(𝟏,𝟓) 𝒓𝟐(𝟐,𝟔) 𝒓𝟑(𝟓,𝟓) 𝒘𝟏(𝟑,𝟓) 𝒘𝟐(𝟕,𝟓) 𝒘𝟑(𝟓,𝟑) 𝑟1 𝑟2 𝑟3 𝑤1 𝑤2 𝑤3 $3/km $2/km Decision 𝑣𝑟1 > 3 𝑣𝑟3 > 2 Goal: platforms set prices to maximize the total revenue! 𝑟1 𝑟3 𝑤1 𝑤2 𝑤3 $3/km*1.3km= $3.9 𝑣𝑟2 < 3 Requester 𝒓𝟏 𝒓𝟐 𝒓𝟑 Trip distance 𝒅𝒓 (km) 1.3 0.7 1 $2/km*1km= $2
Basic Concepts Requester 1T2T3 Goal: platforms set prices to Trip distance d,(km)1.3.7 1 maximize the total revenue! 71 $3/km11,<3 2(6) (55 r(15)w735) W2(5) $2/km 3) Decision 3/km:13km=$3:9(1 Total revenue is 5.9 W 01234 678X $2/km*km=$2
Basic Concepts 1 2 3 4 5 1 2 3 4 5 0 X Y 6 7 8 6 7 8 𝒓𝟏(𝟏,𝟓) 𝒓𝟐(𝟐,𝟔) 𝒓𝟑(𝟓,𝟓) 𝒘𝟏(𝟑,𝟓) 𝒘𝟐(𝟕,𝟓) 𝒘𝟑(𝟓,𝟑) 𝑟1 𝑟2 𝑟3 𝑤1 𝑤2 𝑤3 $3/km $2/km Decision 𝑣𝑟1 > 3 𝑣𝑟3 > 2 Goal: platforms set prices to maximize the total revenue! Total Revenue is 5.9 𝑣𝑟2 < 3 Requester 𝒓𝟏 𝒓𝟐 𝒓𝟑 Trip distance 𝒅𝒓 (km) 1.3 0.7 1 𝑟1 𝑟3 𝑤1 𝑤2 𝑤3 $3/km*1.3km= $3.9 $2/km*1km= $2
Basic Concepts Requester 1T2T3 Goal: platforms set prices to Trip distance d,(km)1.3.7 1 maximize the total revenue! ???
Basic Concepts Goal: platforms set prices to maximize the total revenue! Requester 𝒓𝟏 𝒓𝟐 𝒓𝟑 Trip distance 𝒅𝒓 (km) 1.3 0.7 1 𝑟1 𝑟2 𝑟3 𝑤1 𝑤2 𝑤3 𝑣𝑟2 𝑣𝑟1 𝑣𝑟3
Basic Concepts Requester 1T2T3 Goal: platforms set prices to Trip distance dr(km) 1.3 0.7 1 maximize the total revenue! Pricep(S/km)123 vr w.r.t grid g are Li. d samples Accepted ratio S(p) 0.9 0.8 0.5 from an unknown distribution F9(p)=Pr[vr≤p Accepted ratiolprobability (p)=Pr{v1>p]=1-F(p) Y Singer, M. Mittal. Pricing Mechanisms for Crowdsourcing Markets. WWW 2013 M. Babaioff, S. Dughmi, R. D. Kleinberg, and A. Slivkins. Dynamic Pricing witI Limited Supply. In ACM TEAC 2011
Basic Concepts Goal: platforms set prices to maximize the total revenue! Requester 𝒓𝟏 𝒓𝟐 𝒓𝟑 Trip distance 𝒅𝒓 (km) 1.3 0.7 1 ⚫ 𝒗𝒓 w.r.t. grid 𝒈 are i.i.d. samples from an unknown distribution ⚫ 𝑭 𝒈 𝒑 = 𝑷𝒓[𝒗𝒓 ≤ 𝒑] ⚫ Accepted ratio/probability: ⚫ 𝑺 𝒈 𝒑 = 𝑷𝒓 𝒗𝒓 > 𝒑 = 𝟏 − 𝑭 𝒈 𝒑 Price 𝒑 ($/km) 𝟏 𝟐 𝟑 Accepted ratio 𝑺(𝒑) 0.9 0.8 0.5 Y. Singer, M. Mittal. Pricing Mechanisms for Crowdsourcing Markets. WWW 2013. M. Babaioff, S. Dughmi, R. D. Kleinberg, and A. Slivkins. Dynamic Pricing with Limited Supply. In ACM TEAC 2011. 𝑟1 𝑟2 𝑟3 𝑤1 𝑤2 𝑤3 𝑣𝑟2 𝑣𝑟1 𝑣𝑟3