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Optimal Strategy of Taxi Drivers at Airports by a Stochastic Programming Approach: A Case Study in China

SSRN, ISSN: 1556-5068
2022
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Article Description

Since taxi drivers’ decision at airports affects service quality of passengers, it is applicable to address how they make optimal choices by mathematical modelling. This study aims to formulate such a problem by a new stochastic 0-1 integer programming model such that the research gap of the literature is filled. Particularly, when net gains of service in urban areas is random, down-deviated risk of profit is considered in the objective function of this model, and on the basis of its property analysis, a number of useful decision thresholds are derived. By case study in China and numerical simulation, the built models are validated and valuable managerial implications are revealed. Our main findings include: (1) The provided critical time or number thresholds can be easily used by taxi drivers to earn the maximum profit, and the stochastic model is more applicable in practice. (2) Optimal strategy of taxi drivers at airports depends on the service periods, the needed time of driving at highway, the relative difference of net gains earned by driving on freeway and in city, and the critical number of queuing taxis at airports. (3) When the down-deviated risk of profits is considered, the drivers are more likely to return to city for passenger service. (4) Except two earlier periods, shortening the expended time of boarding a taxi can greatly attract taxi drivers’ waiting at airports.

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