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Pricing of parking games with atomic players

Author

Listed:
  • He, Fang
  • Yin, Yafeng
  • Chen, Zhibin
  • Zhou, Jing

Abstract

This paper considers a parking competition game where a finite number of vehicles from different origins compete for the same number of parking spaces located at various places in a downtown area to minimize their own parking costs. If one vehicle reaches a desired vacant parking space before another vehicle, it will occupy the space and the other vehicle would have to search elsewhere. We first present a system of nonlinear equations to describe the equilibrium assignment of parking spaces to vehicles, and then discuss optimal pricing schemes that steer such parking competition to a system optimum assignment of parking spaces. These schemes are characterized by a union of polyhedrons. Given that the equilibrium state of parking competition is not unique, we further introduce a valid price vector to ensure that the parking competition outcome will always be system optimum. A sufficient condition is provided for the existence of such a valid price vector. Lastly, we seek for a robust price vector that yields the best worst-case outcome of the parking competition.

Suggested Citation

  • He, Fang & Yin, Yafeng & Chen, Zhibin & Zhou, Jing, 2015. "Pricing of parking games with atomic players," Transportation Research Part B: Methodological, Elsevier, vol. 73(C), pages 1-12.
    • Handle: RePEc:eee:transb:v:73:y:2015:i:c:p:1-12
    DOI: 10.1016/j.trb.2014.12.003
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    References listed on IDEAS

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