Journal of the Korea Society of Computer and Information (한국컴퓨터정보학회논문지)

Korean Society of Computer Information (한국컴퓨터정보학회)
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Development of penalty dependent pricing strategy for bicycle sharing and relocation of bicycles using trucks

  • Kim, Woong (Dpt. of Industrial Management Engineering, Korea University) ;
  • Kim, Ki-Hong (Dpt. of Industrial Management Engineering, Korea University) ;
  • Lee, Chul-Ung (Dpt. of Industrial Management Engineering, Korea University)
  • Received : 2016.05.17
  • Accepted : 2016.05.27
  • Published : 2016.06.30
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Abstract

In this paper, we propose a Bicycle sharing has grown popular around the cities in the world due to its convenience. However, the bicycle sharing system is not problem-free, and there remains many managerial problems to be solved. In this study, we analyzed pricing strategy of a bicycle sharing system by minimizing the number of bicycles relocated by trucks, the act of which incurs penalty. The objective function is constructed by applying mixed integer programming and is presented as a stochastic model by using Markov chain so that arrival and departure rates of bicycle stations can be utilized in the analysis. The efficiency of the presented model is verified upon the analysis of bicycle sharing data gathered in Daejeon in 2014.

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References

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