Misinformation and Misperception in the market for parking

Daniel Albalate and Albert Gragera

No 201812, IREA Working Papers from University of Barcelona, Research Institute of Applied Economics

Abstract: This article studies the level of knowledge and information held by drivers in the car parking market. By drawing on a survey conducted with 576 garage customers in Barcelona, we provide new evidence on the market frictions produced by the misinformation and misperception of drivers searching for parking spaces. We identify the factors that aggravate/mitigate misinformation and misperception, and examine how they affect the functioning of the parking market, damaging market competition, undermining effective regulatory actions and exacerbating negative externalities. Our evidence shows that drivers’ misperceptions increase cruising-for-parking and its consequences: congestion, pollution and accidents.

Keywords: Parking; imperfect information; misperception; search cost; cruising. JEL classification:D82; D62; L15; R41; R48. (search for similar items in EconPapers)
Pages: 39 pages
Date: 2018-06, Revised 2018-06
New Economics Papers: this item is included in nep-tre and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ira:wpaper:201812

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