One of the key innovations made by Uber has been to introduce Dynamic Pricing into the personal transportation market, allowing prices to adjust to marketplace conditions in real time.
In this talk I will outline the principles underlying the Uber Dynamic Pricing system and discuss how Uber uses real time pricing to ensure Marketplace Health.
Chris Wilkins is a Senior Staff Data Scientist in the Marketplace Optimization Data Science (MODS) team at Uber. He has been with the team since its inception and has worked on a wide variety of marketplace problems during his three and a half years at Uber, with a primary focus on the areas of dynamic and structural pricing.
He is one of the main architects of the current Uber dynamic pricing system, which continuously adjusts prices in real time across Uber’s vast worldwide marketplace. Previously Chris was an early employee and lead developer for the EViews econometrics software package used widely for inference and modeling within the economics profession. His interests include revenue management, time series analysis and forecasting, statistical learning, numerical methods and optimization.