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Recent advancements in revenue management of taxi services: a systematic review and research agenda

Author

Listed:
  • Swaminathan Rammohan

    (Indian Institute of Technology Madras)

  • Rahul R. Marathe

    (Indian Institute of Technology Madras)

  • Nandan Sudarsanam

    (Indian Institute of Technology Madras)

Abstract

This study aims to present a systematic review of the most recent literature on revenue management practices in taxi services and illustrate insightful future directions for research. The classical works of M. K. Geraghty and W. J. Carroll have served as a bedrock for understanding the revenue management of taxi services. However, the advent of online platforms and advances in technology over the last 20 years has led to a wide range of studies that adapt to improve the profitability of taxi services. We reviewed the literature on taxi services’ revenue management practices by collecting the most relevant research articles based on specified delimiting criteria. A total of 110 research articles were analyzed to gain vital insights into revenue management practices in taxi services. We study the revenue management framework from Pricing, Market structure, Business Models and technology, Structure, and Marketing viewpoints. The trends emerging from the literature provide a thorough understanding of the research directions of this domain, along with future scopes of research in this area. Also, we explicitly identify research gaps that are relevant to academic research and practice.

Suggested Citation

  • Swaminathan Rammohan & Rahul R. Marathe & Nandan Sudarsanam, 2024. "Recent advancements in revenue management of taxi services: a systematic review and research agenda," Management Review Quarterly, Springer, vol. 74(2), pages 1029-1055, June.
    • Handle: RePEc:spr:manrev:v:74:y:2024:i:2:d:10.1007_s11301-023-00326-8
    DOI: 10.1007/s11301-023-00326-8
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    More about this item

    Keywords

    Taxi services; Revenue management; Taxi pricing; Business models; Taxi market regulation; Shared mobility;
    All these keywords.

    JEL classification:

    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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