The External Cruising Costs of Parking
Eren Inci (),
Jos van Ommeren () and
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Martijn Kobus: MuConsult, the Netherlands
No 15-117/VIII, Tinbergen Institute Discussion Papers from Tinbergen Institute
Existing work emphasizes the importance of traffic congestion externalities, but typically ignores cruising-for-parking externalities. We introduce a novel methodology to estimate the marginal external cruising costs of parking. The level of cruising is identified by examining to what extent the car inflow rate into the parking location falls with parking occupancy level. For a commercial street in Istanbul, we demonstrate that a marginal car parking for one hour induces 3.6 other cars to cruise for parking. This translates into an external cruising cost that far exceeds the external traffic congestion cost created by the trip.
Keywords: administrative parking data; cruising for parking; external costs of parking; parking fee; parking occupancy rate (search for similar items in EconPapers)
JEL-codes: D62 H23 L91 R41 R48 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-tre and nep-ure
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Journal Article: The external cruising costs of parking (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20150117
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