作者：Buchholz, Nicholas; Doval, Laura; Kastl, Jakub; Matejka, Filip; Salz, Tobias
作者单位：Princeton University; Columbia University; University of Cambridge; Centre for Economic Policy Research - UK; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Massachusetts Institute of Technology (MIT)
摘要：We recover valuations of time using detailed data from a large ride-hail platform, where drivers bid on trips and consumers choose between a set of rides with different prices and wait times. Leveraging a consumer panel, we estimate demand as a function of both prices and wait times and use the resulting estimates to recover heterogeneity in the value of time across consumers. We study the welfare implications of personalized pricing and its effect on the platform, drivers, and consumers. Taki...
作者：Cesa-Bianchi, Nicolo; Colomboni, Roberto; Kasy, Maximilian
作者单位：University of Milan; Polytechnic University of Milan; University of Oxford
摘要：We consider the problem of repeatedly choosing policies to maximize social welfare. Welfare is a weighted sum of private utility and public revenue. Earlier outcomes inform later policies. Utility is not observed, but indirectly inferred. Response functions are learned through experimentation.We derive a lower bound on regret, and a matching adversarial upper bound for a variant of the Exp3 algorithm. Cumulative regret grows at a rate of T2/3. This implies that (i) welfare maximization is hard...
