Better lucky than rich? Comparative analysis of parking reservation and parking charge. (March 2019)

• Record Type: Journal Article
• Authors: Mei, Zhenyu; Feng, Chi; Ding, Wenchao; Zhang, Lihui; Wang, Dianhai
• Is Part Of: Transport policy. Volume 75(2019)
• Page Start: 47
• Page End: 56
• Publication Date: 2019-03
• Subjects: Parking reservation -- Parking charge -- Comprehensive benefit -- Agent simulation -- Comparative analysis; Transportation and state -- Periodicals; Transportation -- Rates -- Periodicals; 388
• DOI: 10.1016/j.tranpol.2019.01.001
• Languages: English
• ISSNs: 0967-070X

Abstract

Abstract: The demand for parking spaces in city centers often exceeds the supply. The spatial distribution of such spaces is uneven, which leads to the overheating of hot parking lots. To balance existing conflicts, parking charge and reservation mechanisms are usually utilized to improve the overall efficiency of parking spaces. This study aims to analyze and compare the benefits of these instruments and provide operational suggestions for urban parking managers. To achieve this goal, we introduce an agent simulation system and construct a simulation framework of parking charge and reservation. Then, the average travel time and total parking space utilization time are combined as a comprehensive benefit with different weights, and the benefits of parking charge and reservation are analyzed and compared under the corresponding weight. Parking charge and reservation are considered comprehensively in a combined simulation example. Results show that parking charge and reservation can remarkably improve the comprehensive benefit, and parking charge can achieve the maximum comprehensive benefit when the fee is high. When the fee is low, such as less than 26 yuan/h, the reservation mechanism can achieve a good level of benefit. Thus, parking reservation in most cities in China is an effective means to manage popular parking lots when the parking fee is low and difficult to increase. Highlights: An agent-based simulation model is established to describe the process of cruising for available parking spaces. Comprehensive benefit analysis and comparison of parking charge and reservation mechanisms through the simulation model. Parking charge mechanism can achieve the best comprehensive benefit with a higher parking fee for hot parking lots. Parking reservation mechanism can quickly and effectively improve the comprehensive benefit with present low parking fee standard.