Unlock the Sharing Economy: The Case of the Parking Sector for Recurrent Commuting Trips

Wei Liu (), Fangni Zhang (), Xiaolei Wang (), Chaoyi Shao () and Hai Yang ()
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Wei Liu: Research Centre for Integrated Transport Innovation, School of Civil and Environmental Engineering, University of New South Wales, Sydney NSW 2052, Australia; Department of Aeronautical and Aviation Engineering, The Hong Kong Polytechnic University, Hong Kong, China
Fangni Zhang: Department of Industrial and Manufacturing Systems Engineering, University of Hong Kong, Hong Kong, China
Xiaolei Wang: School of Economics and Management, Tongji University, Shanghai 200092, China
Chaoyi Shao: Department of Civil and Environmental Engineering, The Hong Kong University of Science and Technology, Hong Kong, China
Hai Yang: Department of Civil and Environmental Engineering, The Hong Kong University of Science and Technology, Hong Kong, China

Transportation Science, 2022, vol. 56, issue 2, 338-357

Abstract: This study examines the pricing strategy of a parking sharing platform that rents the daytime-usage rights of private parking spaces from parking owners and sells them to parking users. In an urban area with both shared parking and curbside parking, a choice equilibrium model is proposed to predict the number of shared parking users under any given pricing strategy of the platform. We analytically analyze how the pricing strategy of the platform (price charged on users and rent paid to parking owners or sharers) would affect the parking choice equilibrium and several system efficiency metrics. It is shown that the platform is profitable when some parking owners have a relatively small inconvenience cost from sharing their spaces, but its profit is always negative at minimum social cost. Numerical studies are conducted to illustrate the analytical results and provide further understanding.

Keywords: shared parking; two-sided market; parking choice equilibrium; revenue maximization; social cost minimization (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ortrsc:v:56:y:2022:i:2:p:338-357

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