A Truthful Mechanism for Rentals of Privately Owned Electrical Vehicles

This paper presents an auction of our proposed car renting system for private car owners. While related work relies on the initial renter to return the automobile, our approach to remote opening and starting cars enables them to return to the owner by paying drivers to park them incrementally closer to the owner's preferred drop-off location. Funding for this is provided by the initial renter who abandoned the car in an undesired location. Our mathematical model is designed to increase costs for renters that do not seem to be returning the automobile. We present a fair and truthful way to establish the current cost or renting a car within the system using the algorithmic mechanism of double auctions and we show how this mechanism is truthful and guarantees coverage of maintenance costs of the automobiles.