The Parking Lot Problem

Maria Arbatskaya, Kaushik Mukhopadhaya and Eric Rasmusen ()
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Kaushik Mukhopadhaya: Department of Economics, Emory University

No CIRJE-F-119, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: If there is queueing for an underpriced good, the queueing can eat up the entire surplus, eliminating the social value of the good. An implication is that there is a discontinuity in social welfare between "enough" and "not enough" for certain goods such as parking spaces. This implies that if there is uncertainty in the number of demanders, the amount of the good should be set well in excess of the mean demand

Pages: 30 pages
Date: 2001-06
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Related works:
Working Paper: The Parking Lot Problem (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2001cf119

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