Information Provision and Search Frictions: Evidence from the Taxi Industry in Singapore
利用新加坡出租车行程数据，研究发现机场实时需求信息减少了出租车供给错配，使空驶速度提高16.3%、空驶时间减少10.77%，并提升司机日收入3.70美元，对乘客和司机均有益。
Abstract Search frictions and misallocation are common in decentralized transportation markets. Using novel trip-level data of taxis in Singapore, this paper examines the impactof real-time demand information at airport terminals on search frictions. The in-formation reduces taxi supply misallocation, increasing deadheading speed by 16.3%and decreasing deadheading time by 10.77%, benefiting both passengers and drivers.It raises daily earnings by $3.70 USD and adds 6.2 minutes of operational time perairport-trip taxi. Spatial spillovers are primarily observed among drivers in adjacentdistricts. Taxis from the Budget Terminal and drivers with fewer prior airport pickups benefit more from this information.