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Daniel Knoepfle

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Research Papers

Labor Market Equilibration: Evidence from Uber

J. Hall, J. Horton, D. Knoepfle
Fare changes have two competing effects on driver earnings: a fare increase will raise earnings per trip, but in equilibrium, fare increases negatively affect utilization (the share of a driver’s online hours spent on a trip) through both the demand for rides and the supply of driver hours. Using a panel of fare changes in the United States, the authors find that hourly earnings immediately move in the direction of the fare change for the short term, but offsetting changes in utilization cause hourly earnings to return to near their original level within about eight weeks. [...] [PDF]
2019

Surge Pricing Solves the Wild Goose Chase

J. C. Castillo, D. Knoepfle, E. G. Weyl
Surge pricing is essential to the proper functioning and health of a dispatch ride-hailing system. When drivers get scarce relative to demand, more time tends to be spent en-route to pick up riders, driving down the efficiency of the entire system. This means that riders and drivers are aligned in their interests: both sides of the market want prices to be higher to avoid these situations, because these "wild goose chase" scenarios result in fewer trips being provided to riders and lower earnings for drivers. [...] [PDF]
ACM Conference on Economics and Computation (ACM EC), 2018

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