Authors
Tulio Silveira-Santos, Ana Belén Rodríguez González, Thais Rangel, Rubén Fernández Pozo, Jose Manuel Vassallo, Juan José Vinagre Díaz
Publication date
2024/6
Journal
Transportation
Volume
51
Issue
3
Pages
791-822
Publisher
Springer US
Description
Ride-hailing services such as Lyft, Uber, and Cabify operate through smartphone apps and are a popular and growing mobility option in cities around the world. These companies can adjust their fares in real time using dynamic algorithms to balance the needs of drivers and riders, but it is still scarcely known how prices evolve at any given time. This research analyzes ride-hailing fares before and during the COVID-19 pandemic, focusing on applications of time series forecasting and machine learning models that may be useful for transport policy purposes. The Lyft Application Programming Interface was used to collect data on Lyft ride supply in Atlanta and Boston over 2 years (2019 and 2020). The Facebook Prophet model was used for long-term prediction to analyze the trends and global evolution of Lyft fares, while the Random Forest model was used for short-term prediction of ride-hailing fares. The results …
Total citations
2023202445
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