Regulating on-street parking

Edward Calthrop () and Stef Proost
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Edward Calthrop: Community of European Railways (CER)

Energy, Transport and Environment Working Papers Series from KU Leuven, Department of Economics - Research Group Energy, Transport and Environment

Abstract: Consider a shopper or tourist driving downtown and trying to park. Two strategies are usually available: either park at a private off-street facility or search for a cheaper on-street spot. We formalise such a setting and use the model to study optimal government regulation of the on-street parking market. It is shown that the optimal on-street fee equals the marginal cost of off-street supply at the optimal quantity. If the off-street market is supplied under constant returns to scale, this provides a particular simple operational rule: the price on street should match that off street. We also extend the model to consider maximum length of stay restrictions and non-competitive private supply. A numerical model, calibrated to central London, investigates the magnitude of an optimal fee.

Keywords: Parking; Regulating urban transport; Search. (search for similar items in EconPapers)
JEL-codes: H42 L92 R40 R48 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2004-08
New Economics Papers: this item is included in nep-geo and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Regulating on-street parking (2006)
Working Paper: Regulating on-street parking (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:ete:etewps:ete0410

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