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The economics of regulatory parking policies: The (IM)possibilities of parking policies in traffic regulation

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  • Verhoef, Erik
  • Nijkamp, Peter
  • Rietveld, Piet

Abstract

This article contains an economic analysis of regulatory parking policies as a substitute to road pricing. The scope for such policies is discussed, after which a simple diagrammatic analysis is presented, focusing on the differences between the use of parking fees and physical restrictions on parking space supply. The former is found to be superior for three reasons: an information argument, a temporal efficiency argument and an intertemporal efficiency argument. Finally, a spatial parking model is developed, showing that it may be possible to overcome the difficulty of regulatory parking policies not differentiating according to distance driven by specifying the appropriate spatial pattern of parking fees, making individuals respond to (spatial) parking fee differentials.

Suggested Citation

  • Verhoef, Erik & Nijkamp, Peter & Rietveld, Piet, 1995. "The economics of regulatory parking policies: The (IM)possibilities of parking policies in traffic regulation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 29(2), pages 141-156, March.
    • Handle: RePEc:eee:transa:v:29:y:1995:i:2:p:141-156
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    1. Fujita,Masahisa, 1991. "Urban Economic Theory," Cambridge Books, Cambridge University Press, number 9780521396455, November.
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    3. Glazer, Amihai & Niskanen, Esko, 1992. "Parking fees and congestion," Regional Science and Urban Economics, Elsevier, vol. 22(1), pages 123-132, March.
    4. F. H. Knight, 1924. "Some Fallacies in the Interpretation of Social Cost," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 38(4), pages 582-606.
    5. Himanen, Veli & Nijkamp, Peter & Padjen, Juraj, 1992. "Environmental quality and transport policy in Europe," Transportation Research Part A: Policy and Practice, Elsevier, vol. 26(2), pages 147-157, March.
    6. Kanemoto, Yoshitsugu, 1980. "Theories of urban externalities," MPRA Paper 24614, University Library of Munich, Germany.
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