巴克莱-美股-投资策略-宏观策略：数据显示市场热情尚未被激发-2019.12.10.pdfVIP

SIGNATURE Cross-Asset Research 10 December 2019 Ride Hailing Data Says UnCurb Your Enthusiasm INDUSTRY FOCUS Macro Strategy Macro View –NYC ride-hailing data points to social benefits and low price elasticity Jeffrey Meli ** A proprietary analysis of 2.4bn individual taxi and ride-hailing rides in New York City (the +1 212 412 2127 only city for which extensive data is available) shows that ride hailing’s explosive growth jeff.meli@ more than doubled total trips, and exposed significantly underserved latent demand. BCI, US A natural experiment arising when NYC launched a congestion charge allows us to Data Science estimate that the elasticity of demand for ride hailing is -0.4 to -0.6, allowing UBER or Adam Kelleher ** LYFT to increase net revenue by raising prices (despite any effects on volume). For +1 212 526 5697 comparison, our estimate places it at the low end of industries, similar to legal