Revolutionizing Carsharing Profit: How Dynamic Pricing Maximizes Service Revenue
Carsharing companies are looking for ways to make more money by attracting more customers and using their cars more efficiently. A study used computer simulations to figure out the best prices to charge for car rentals. They found that the profit depends more on how many cars are available than on how many people want to rent them. By testing different prices, they discovered a simple way to maximize profit based on the number of cars they have.