Juan Camilo Castillo es profesor e investigador en la Universidad de Pennsylvania. Tiene un PhD en Economía por la Universidad de Stanford y un Máster en Economía por la Universidad de los Andes. Sus investigaciones se centran en temas de organización industrial, teoría microeconómica y diseño de mercados, y actualmente se encuentra trabajando en temas de economía digital, plataformas online y transporte. Sus trabajos han sido publicados en revistas académicas como AEA Papers and Proceedings, Oxford Review of Economics and Policy, Science, American Political Science Review y Review of Economics and Statistics, entre otras. 

Abstract: In the last decade, new technologies have led to a boom in real-time pricing. I analyze the most salient example, surge pricing in ride hailing. Using data from Uber, I develop an empirical model of spatial equilibrium to measure the welfare effects of surge pricing. The model is composed of demand, supply, and a matching technology. It allows for temporal and spatial heterogeneity as well as randomness in supply and demand. I find that, relative to a counterfactual with uniform pricing, surge pricing increases total welfare by 1.91% of gross revenue. Welfare effects differ substantially across sides of the market: rider surplus increases by 3.55% of gross revenue, whereas driver surplus and the platform's current profits decrease by 1.01% and 0.59% of gross revenue, respectively. Riders at all income levels benefit. Among drivers, women and those who work long hours are hurt the most.

Autor: Juan Camilo Castillo (Universidad de Pennsylvania)

Organizan: Departamento de Economía, Instituto de Investigaciones Económicas y Revista Económica

Contacto: iie@econo.unlp.edu.ar