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Modeling the Parking Pricing of Multiple Parking Facilities under Different Operation Regimes

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DOI: 10.4236/jtts.2012.23028    3,880 Downloads   6,768 Views   Citations

ABSTRACT

To explore the parking pricing of multiple parking facilities, this paper proposes a bi-level programming model, in which the interactions between parking operators and travelers are explicitly considered. The upper-level sub-model simulates the price decision-making behaviors of the parking operators whose objectives may vary under different operation regimes, such as monopoly market, oligopoly competition, and social optimum. The lower level represents a network equilibrium model that simulates how travelers choose modes, routes, and parking facilities. The proposed model is solved by a sensitivity based algorithm, and applied to a numerical experiment, in which three types of parking facilities are studied, i.e., the off-road parking lot, the curb parking lot, and the parking-and-ride (P&R) facility. The results show in oligopoly market that the level of parking price reaches the lowest point, nonetheless the social welfare decreases to the lowest simultaneously; and the share of P&R mode goes to the highest value, however the total network costs rise also to the highest. While the monopoly market and the social optimum regimes result in solutions of which P&R facilities suffer negative profits and have to be subsidized.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

F. Wenbo and M. Khan, "Modeling the Parking Pricing of Multiple Parking Facilities under Different Operation Regimes," Journal of Transportation Technologies, Vol. 2 No. 3, 2012, pp. 260-266. doi: 10.4236/jtts.2012.23028.

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