In June 2020, Xiaoyan Wang's graduation project "Research on Management Policies Based on Autonomous Vehicle Market Equilibrium" was awarded as the Excellent thesis of Tsinghua University.
In the future, autonomous vehicles will enter people's lives. In addition to meeting the owners' travel demands, private cars can travel on their own during the idle period and provide other travelers with services similar to taxis. The service efficiency of autonomous vehicles will be significantly improved through the rental-service pattern. Car owners and travelers are expected to achieve a win-win situation.
This study establishes a mathematical model to explore the potential of the autonomous vehicle rental-service pattern and its impact on future urban traffic. This paper first establishes an equilibrium model for the autonomous vehicle rental market, and further establishes an optimization model for the three decision-making objectives - maximizing the platform profit, maximizing social welfare and balancing both the platform profit and the social welfare. Results show that this new pattern can improve the overall social benefits. Moreover, the platform with a large enough scale can obtain a considerable daily profit in the first-best scenario. The study shows the value and feasibility of this new pattern, and provides guidance for the government, the platform and citizens to make decisions in the future.