Shared Parking Decision Behavior of Parking Space Owners and Car Travelers Based on Prospect Theory—A Case Study of Nanchang City, China

Yunqiang Xue (), Qifang Kong, Feng Sun, Meng Zhong, Haokai Tu, Caifeng Tan and Hongzhi Guan
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Yunqiang Xue: School of Transportation Engineering, East China JiaoTong University, Nanchang 330013, China
Qifang Kong: School of Transportation Engineering, East China JiaoTong University, Nanchang 330013, China
Feng Sun: Beiliu City Dawu Urban Design Institute, Yulin 537400, China
Meng Zhong: School of Transportation Engineering, East China JiaoTong University, Nanchang 330013, China
Haokai Tu: School of Transportation Engineering, East China JiaoTong University, Nanchang 330013, China
Caifeng Tan: School of Transportation Engineering, East China JiaoTong University, Nanchang 330013, China
Hongzhi Guan: College of Architecture and Civil Engineering, Beijing University of Technology, Beijing 100124, China

Sustainability, 2022, vol. 14, issue 24, 1-17

Abstract: Shared parking improves the utilization rate of parking spaces by taking advantage of temporal and spatial differences, which is conducive to alleviating parking problems. From the perspective of bounded rationality, this paper studies the factors that influence the decision behavior of parking space owners and car travelers (non-residential drivers who have parking needs near residential areas) in sharing parking spaces. Prospect theory was used to analyze the bounded rational behavior characteristics of parking space owners and car travelers, and a value function model with rental price as the reference point was established. Combined with the survey data of the Xinhuangcheng district in Nanchang City, China, the shared parking space rental price that satisfied both parties was analyzed in this case study. The results of the study show that factors such as personal characteristics and behavioral habits affect the decision behavior of parking space owners and car travelers, and that rental price is a key factor. When the rental price of parking spaces is close to the maximum price desired by the owner, the owner feels the benefit and is willing to share the private parking space, but when the rental price differs greatly from the maximum price desired by the owner, the owner feels the loss and is not willing to share the parking space. From the survey data, it can be concluded that the ideal rental price of shared parking spaces around the survey area is 5 CNY/h. This paper provides a theoretical basis and guidance for the formulation of shared parking policies, which can help solve parking problems.

Keywords: shared parking space; bounded rationality; prospect theory; decision behavior; rental price (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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