Bounded Rationality in Ridesourcing Drivers’ Dwelling at Transportation Terminals: A Behavioral Queueing Analysis
SPEAKER Yafeng Yin, Ph.D.
Donald Cleveland Collegiate Professor of Engineering
Donald Malloure Department Chair
Department of Civil and Environmental Engineering
University of Michigan, Ann Arbor DATE AND TIME 11 Dec 2024, 7 pm -8 pm
Venue
Rayson Huang Theatre, The University of Hong Kong ORGANISED BY Institute of Transport Studies, The University of Hong Kong ABSTRACT This talk explores the boundedly rational behavior of ridesourcing drivers at transportation terminals through the lens of behavioral queueing theory. By incorporating concepts such as mental accounting and risk aversion, we develop a theoretical model of idle drivers’ queueing decisions and propose hypotheses to capture their bounded rationality. Using empirical data from Tianjin, China, we find that drivers are influenced by sunk costs through mental accounting, leading them to wait longer in queues. Moreover, drivers exhibit risk aversion in the context of time loss, showing a greater likelihood of leaving the queue when not sequentially matched, as opposed to being matched in a first-in-first-out order. These findings emphasize the importance of accounting for behavioral factors to enhance queue management and improve operational efficiency in ridesourcing systems. BIOS Dr. Yafeng Yin is Donald Cleveland Collegiate Professor of Engineering and Donald Malloure Department Chair of Civil and Environmental Engineering at University of Michigan, Ann Arbor. He works on transportation systems analysis and modeling and has published over 150 refereed papers in leading academic journals. He currently serves as Area Editor of Transportation Science and Associate Editor of Transportation Research Part B: Methodological and was the Editor-in-Chief of Transportation Research Part C: Emerging Technologies between 2014 and 2020. Dr. Yin has received recognition from different institutions, including the Monroe-Brown Foundation Education Excellence Award from College of Engineering at University of Michigan, a Doctoral Mentoring Award from University of Florida, Outstanding Leadership Award by the Chinese Overseas Transportation Association (COTA), Matthew Karlaftis Lifetime Achievement Award from Transportation Research Part C: Emerging Technologies, and Stella Dafermos Best Paper Award, Ryuichi Kitamura Paper Award, and Kikuchi-Karlaftis Best Paper Award from Transportation Research Board of the National Academies of Sciences, Engineering, and Medicine. Dr. Yin received his Ph.D. from the University of Tokyo, Japan in 2002, his master’s and bachelor’s degrees from Tsinghua University, Beijing, China in 1996 and 1994 respectively.