Research on Pricing of Parent-Child Shared Bicycles Based on Biogeme

Abstract

This study conducts a quantitative study on the reasonable pricing of parentchild shared bicycles. First of all, this study carried out a field SP (stated preference) survey in Beijing; secondly, on the basis of considering individual heterogeneity, this paper constructs the RPL (random parameters logit) model containing attitude latent variables, characterizes the latent variables with an ordered probit model, and uses PandasBiogeme software to compile a quasi-Newton algorithm and calibrate parameters; thirdly, this paper establishes a pricing model to maximize the revenue of parent-child bike sharing operator; finally, this paper uses the survey data as a representative, and uses Monte Carlo integration method to solve the model on Matlab software through sample expansion. The research results show that when the price of parent-child shared bicycle in Beijing is 1.97 yuan, the operator's revenue is the largest. At this time, 29.09% of children's parents adopt parent-child shared bicycle. The results also provide a reference for the bicycles' delivery at different pick-up distances.