April 8th, 2018, in Room A716 of the New Main Building, Dr. Meng Xu, an Professor at Beijing Jiaotong University, was invited to give a lecture, entitled "How to Restrain Participants Opt Out in Shared Parking Management? --A Modelling Approach". The lecture was hosted by Associate professor Tianliang Liu.More than 40 audiences attended, including professors and graduate students fromLeeds University, Beihang University, Beijing Jiaotong University, Fuzhou university and Capital University of Economics and Business.
Prof.Xu presented a fair recurrent double auction mechanism (FRDAM) to approach the shared parking management problem. The mechanism is based on the participants’ priorityattributes, which are calculated with respect to historic auction records provided by the parking platform. Participants’ fairness bids are then generated combining with their priority attributes and their submitted bids (parkingtime and bid price) with the support of a novel evaluation function, whichintegrates fairness bids with priority attributes, parking time and bid priceinto a single output value. The parking slot allocation rule and transactionpayment rule are further designed to dealing with the issues includes winnerdetermination and price setting, respectively. Numerical examples showadvantages of the proposed FRDAM, i.e., comparing with the utilitarianmechanism (UM) for the shared parking management problem, where priorityattributes and evaluation function are not considered, the proposed FRDAM has the potential to persuade participants to remain in the market whilst itimproves the market’s retention rate, the parking slot’s utilization rate and the participants’ utilities.
Duringthe lecture, the participants conducted in-depth discussions with Professor Xu on some related issues.
