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Temporal variance of revealed preference on-street parking price elasticity

J Andrew Kelly and J. Peter Clinch

Transport Policy, 2009, vol. 16, issue 4, 193-199

Abstract: This paper utilises revealed-preference parking trend data from parking meters ex ante and ex post of a general 50% price increase in the hourly cost of on-street parking to estimate the on-street parking price elasticity of demand in an area of Dublin, Ireland. Estimates are presented for the aggregate price elasticity of demand level and individual estimates for specific time periods and days of the week. In terms of reduced parking frequency, the average price elasticity of demand reported is -0.29. Daily average estimates are consistent, with one notable exception being Thursday, a 'late night shopping' day for which a lower price sensitivity is reported. Morning periods are also shown to be more responsive than other time periods in the test area, indicating some potential for influencing morning inbound peak traffic levels.

Keywords: Parking; Pricing; Policy; Elasticity; Transport; Demand; Revealed; Preference; Time; Variance (search for similar items in EconPapers)
Date: 2009
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Handle: RePEc:eee:trapol:v:16:y:2009:i:4:p:193-199