Bad a In a recent trip to Colombia, Singh observed three different market-making mechanisms for three...
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Bad a In a recent trip to Colombia, Singh observed three different market-making mechanisms for three different ride sharing platforms: 1.Uber: Rider announces the destination and Uber quotes a fixed price for say, UberX. Once rider accepts the ride, Uber gives a choice to all nearby drivers. The driver that accepts the ride first, gets the rider. Neither drivers nor riders have a say in choosing the price; price mediation is done solely by Uber. 2. InDrive: Rider announces destination and fare, nearby drivers accept/reject the offer. If no driver accepts the offer, rider can up the price and try again, or keep waiting. 3. Didi: Rider announces the destination and nearby drivers bid for the ride by quoting their price (drivers don't see each other's bid prices). Rider chooses a driver based on price and distance from the rider within a short time period, after which the prices disappear... Compare the three market-making mechanism. What is good and bad, comparatively?.. Good a Uber a InDrive Didi a Bad a In a recent trip to Colombia, Singh observed three different market-making mechanisms for three different ride sharing platforms: 1.Uber: Rider announces the destination and Uber quotes a fixed price for say, UberX. Once rider accepts the ride, Uber gives a choice to all nearby drivers. The driver that accepts the ride first, gets the rider. Neither drivers nor riders have a say in choosing the price; price mediation is done solely by Uber. 2. InDrive: Rider announces destination and fare, nearby drivers accept/reject the offer. If no driver accepts the offer, rider can up the price and try again, or keep waiting. 3. Didi: Rider announces the destination and nearby drivers bid for the ride by quoting their price (drivers don't see each other's bid prices). Rider chooses a driver based on price and distance from the rider within a short time period, after which the prices disappear... Compare the three market-making mechanism. What is good and bad, comparatively?.. Good a Uber a InDrive Didi a
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To compare the three marketmaking mechanisms used by Uber InDrive and Didi lets evaluate the advantages and disadvantages of each approach Uber Good 1 ... View the full answer
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