Estimating the C2C market equilibrium: The case of the carpool market in South Korea
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Carpooling service is a win-win mutual matching activity for both drivers and riders. In South Korea, which experiences high vehicle density on the road and traffic congestion, these services have become part of many urban transport solutions. This study reviews the peculiarities of the consumer-to-consumer (C2C) market by examining the carpool services in South Korea, analyzes the preference for carpool services for both potential drivers and riders, and examines the equilibrium point (demand and supply price of carpool) at which mutual matching occurs for the given attributes of carpool services. A choice experiment was conducted to analyze the preference for carpool services. The study also examines how the equilibrium point changes for the drivers and passengers based on different attribute levels of carpooling. The equilibrium price and utilization ratio are found to be KRW 6,100 (≒USD 6) per 30minutes of carpool drive/ ride and 20.3%, respectively. This study contributes to the literature by providing profound understandings of the C2C market and examining the equilibrium point after considering the traveling behavior decision-making process of both potential drivers and riders.
Abstract
Carpooling service is a win-win mutual matching activity for both drivers and riders. In South Korea, which experiences high vehicle density on the road and traffic congestion, these services have become part of many urban transport solutions. This study reviews the peculiarities of the consumer-to-consumer (C2C) market by examining the carpool services in South Korea, analyzes the preference for carpool services for both potential drivers and riders, and examines the equilibrium point (demand and supply price of carpool) at which mutual matching occurs for the given attributes of carpool services. A choice experiment was conducted to analyze the preference for carpool services. The study also examines how the equilibrium point changes for the drivers and passengers based on different attribute levels of carpooling. The equilibrium price and utilization ratio are found to be KRW 6,100 (≒USD 6) per 30minutes of carpool drive/ ride and 20.3%, respectively. This study contributes to the literature by providing profound understandings of the C2C market and examining the equilibrium point after considering the traveling behavior decision-making process of both potential drivers and riders.
참고문헌 (46)
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