 The time dimension of parking economicsTransportation Research Part B: Methodological, 2016, vol. 91, issue C, 211-228 Abstract: A model of demand for parking, evolving over time, is proposed. The model features both extensive (whether to park) and intensive (for how long to park) margins of parking demand, allows multidimensional heterogeneity of parkers, and evolution of demand throughout the day. I show that the optimal price for parking is proportional to the rate of arrival of new parkers and is inversely related to the square of the occupancy rate, which is different from previously discussed pricing methods. I show that the primary purpose of pricing is to regulate departures, rather than arrivals, of parkers. I also find that asymmetric information about parkers’ characteristics does not prevent the parking authority from achieving the social optimum. A numerical example compares the optimal policy against the alternatives. Keywords: Demand for parking; Endogenous duration of parking; Optimal pricing (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:transb:v:91:y:2016:i:c:p:211-228 Ordering information: This journal article can be ordered from DOI: 10.1016/j.trb.2016.04.008 Access Statistics for this article Transportation Research Part B: Methodological is currently edited by Fred Mannering More articles in Transportation Research Part B: Methodological from Elsevier |
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