text_dict = { var text = { 'Scenario 1':["

\ __ Scenario 1 : supply-driven market__. We set a constant price level of £8.20, while keeping the commission percentage to zero. In this situation, demand is well above supply, even without commissions. Also, __TaxiBest__'s revenue is obviously zero, as no quantity is taken as commission. Now let's move the maximum commission slider to the right. As we move it, we observe two effects:

\n", "- A reduction in supply (as the driver's final revenue is reduced due to the commission).", "- An increase in the optimal commission curve.\n", "

\ Also, when the maximum commission allowed goes above 15%, the optimal commission curve stabilises and does not continue increasing. This is because the increase in revenue due to higher percentage does not compensate for the lost supply due to lower revenue per service for drivers. In general, in a supply-driven market, the commission is set to a value that does not inflict a significant loss in supply, as it is scarce. We can therefore expect relatively flat values for the commission percentage.

"].join("\n"), 'Scenario 2': "

\ __ Scenario 2: no clear dominance between supply and demand__. We set a constant price level of £8.50, while keeping the commission percentage to zero. We observe a similar supply-demand situation that we had in the first visualisation, where we have time periods when supply is dominant and vice versa. As we move the maximum percentage slider to the right, we observe how the supply decreases while the optimal curve increases. The main difference is that now the optimal commission curve is not flat. For the periods when supply is in excess, we can allow larger commissions to push it down while obtaining a larger revenue, until demand and supply are matched.

", 'Scenario 3': "

\ __ Scenario 3: demand-driven market__. We set the price level slider to £9.50 while keeping the commission percentage to zero, so supply is clearly dominant in almost all time periods. We start increasing the slider for the maximum commission price up to 50%. What we see is very interesting: there are significant variations (up to 17 percentage points) in the optimal commission curve. Why? Because we have an excess in supply. Depending on the level of excess, we can penalise it by setting one commission level or another one. In those cases where we have a huge supply excess, our commission can be as high as 37%.
\ In general, in a demand-driven market, we can set higher commissions for the supply, as demand is the limiting factor. These commissions will vary greatly depending on that excess in supply, and we can push them until we reach equality between supply and demand. This is a likely scenario in off-peak times.

\ In this exploration we have not described the combined effect of varying prices and varying commission percentages to maximise revenue for any supply-demand pair in time, which is the situation to be addressed in a realistic scenario.

" }; return text }

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