IDEAS home Printed from https://ideas.repec.org/a/eee/trapol/v142y2023icp46-58.html
   My bibliography  Save this article

Pricing curb parking: Differentiated parking fees or cash rewards?

Author

Listed:
  • Zhou, Xizhen
  • Lv, Mengqi
  • Ji, Yanjie
  • Zhang, Shuichao
  • Liu, Yong

Abstract

Parking price adjustment is an effective method for influencing curb parking choices, playing a crucial role in alleviating urban parking shortages and balancing uneven distribution. The government has extensively explored the implementation of differentiated parking fees and cash incentives for curb parking; however, few studies have investigated the effects of these policies on parking balance management. This study utilized a questionnaire survey to construct two multinomial logit models and examine the mechanisms behind drivers' choice behaviors. Taking the curb parking facilities in Yinzhou District, Ningbo as the case study area, the optimal dynamic pricing schemes for the two strategies were established, and their operational effectiveness was evaluated. The results show that parking cost, value of cash rewards, parking occupancy, and surrounding road conditions have a significant impact on curb parking choice behavior. Both strategies can effectively balance the utilization rate of curb parking space-time resources. The cash rewards strategy yields higher earnings compared to the differentiated parking fee strategy, but the latter is more conducive for reducing the occupancy during peak hours. The research findings of this study can provide insights and a theoretical foundation for real-time and proactive management of roadside parking.

Suggested Citation

  • Zhou, Xizhen & Lv, Mengqi & Ji, Yanjie & Zhang, Shuichao & Liu, Yong, 2023. "Pricing curb parking: Differentiated parking fees or cash rewards?," Transport Policy, Elsevier, vol. 142(C), pages 46-58.
    • Handle: RePEc:eee:trapol:v:142:y:2023:i:c:p:46-58
    DOI: 10.1016/j.tranpol.2023.08.005
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0967070X23002147
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.tranpol.2023.08.005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Albalate, Daniel & Gragera, Albert, 2020. "The impact of curbside parking regulations on car ownership," Regional Science and Urban Economics, Elsevier, vol. 81(C).
    2. Dijk, Marc & Montalvo, Carlos, 2011. "Policy frames of Park-and-Ride in Europe," Journal of Transport Geography, Elsevier, vol. 19(6), pages 1106-1119.
    3. Daniel Albalate & Albert Gragera, 2018. "“Misinformation and Misperception in the market for parking”," IREA Working Papers 201812, University of Barcelona, Research Institute of Applied Economics, revised Jun 2018.
    4. Soto, Jose J. & Márquez, Luis & Macea, Luis F., 2018. "Accounting for attitudes on parking choice: An integrated choice and latent variable approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 111(C), pages 65-77.
    5. Ibeas, A. & dell’Olio, L. & Bordagaray, M. & Ortúzar, J. de D., 2014. "Modelling parking choices considering user heterogeneity," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 41-49.
    6. Christine Fricker & Nicolas Gast, 2016. "Incentives and redistribution in homogeneous bike-sharing systems with stations of finite capacity," EURO Journal on Transportation and Logistics, Springer;EURO - The Association of European Operational Research Societies, vol. 5(3), pages 261-291, August.
    7. Hasnine, Md Sami & Habib, Khandker Nurul, 2020. "Transportation demand management (TDM) and social justice: A case study of differential impacts of TDM strategies on various income groups," Transport Policy, Elsevier, vol. 94(C), pages 1-10.
    8. Eleanor Singer & Cong Ye, 2013. "The Use and Effects of Incentives in Surveys," The ANNALS of the American Academy of Political and Social Science, , vol. 645(1), pages 112-141, January.
    9. Arnott, Richard & Inci, Eren, 2006. "An integrated model of downtown parking and traffic congestion," Journal of Urban Economics, Elsevier, vol. 60(3), pages 418-442, November.
    10. Zakharenko, Roman, 2016. "The time dimension of parking economics," Transportation Research Part B: Methodological, Elsevier, vol. 91(C), pages 211-228.
    11. Hunt, J. D. & Teply, S., 1993. "A nested logit model of parking location choice," Transportation Research Part B: Methodological, Elsevier, vol. 27(4), pages 253-265, August.
    12. Fosgerau, Mogens & de Palma, André, 2013. "The dynamics of urban traffic congestion and the price of parking," Journal of Public Economics, Elsevier, vol. 105(C), pages 106-115.
    13. Hildenbrand, Werner, 1983. "On the "Law of Demand."," Econometrica, Econometric Society, vol. 51(4), pages 997-1019, July.
    14. Arnott, Richard, 2006. "Spatial competition between parking garages and downtown parking policy," Transport Policy, Elsevier, vol. 13(6), pages 458-469, November.
    15. Wang, Xiaotian & Wang, Xin, 2019. "Flexible parking reservation system and pricing: A continuum approximation approach," Transportation Research Part B: Methodological, Elsevier, vol. 128(C), pages 408-434.
    16. Paul Bergey & Cliff Ragsdale & Mangesh Hoskote, 2003. "A Simulated Annealing Genetic Algorithm for the Electrical Power Districting Problem," Annals of Operations Research, Springer, vol. 121(1), pages 33-55, July.
    17. Lehner, Stephan & Peer, Stefanie, 2019. "The price elasticity of parking: A meta-analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 121(C), pages 177-191.
    18. Gragera, Albert & Albalate, Daniel, 2016. "The impact of curbside parking regulation on garage demand," Transport Policy, Elsevier, vol. 47(C), pages 160-168.
    19. Inci, Eren, 2015. "A review of the economics of parking," Economics of Transportation, Elsevier, vol. 4(1), pages 50-63.
    20. Piccioni, Cristiana & Valtorta, Marco & Musso, Antonio, 2019. "Investigating effectiveness of on-street parking pricing schemes in urban areas: An empirical study in Rome," Transport Policy, Elsevier, vol. 80(C), pages 136-147.
    21. Ostermeijer, Francis & Koster, Hans & Nunes, Leonardo & van Ommeren, Jos, 2022. "Citywide parking policy and traffic: Evidence from Amsterdam," Journal of Urban Economics, Elsevier, vol. 128(C).
    22. Geroliminis, Nikolas, 2015. "Cruising-for-parking in congested cities with an MFD representation," Economics of Transportation, Elsevier, vol. 4(3), pages 156-165.
    23. Chiwei Yan & Helin Zhu & Nikita Korolko & Dawn Woodard, 2020. "Dynamic pricing and matching in ride‐hailing platforms," Naval Research Logistics (NRL), John Wiley & Sons, vol. 67(8), pages 705-724, December.
    24. Albalate, Daniel & Gragera, Albert, 2017. "The determinants of garage prices and their interaction with curbside regulation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 101(C), pages 86-97.
    25. Tian, Qiong & Yang, Li & Wang, Chenlan & Huang, Hai-Jun, 2018. "Dynamic pricing for reservation-based parking system: A revenue management method," Transport Policy, Elsevier, vol. 71(C), pages 36-44.
    26. Xiao, Haohan & Xu, Meng, 2022. "Modelling bidding behaviors in shared parking auctions considering anticipated regrets," Transportation Research Part A: Policy and Practice, Elsevier, vol. 161(C), pages 88-106.
    27. Yan, Xiang & Levine, Jonathan & Marans, Robert, 2019. "The effectiveness of parking policies to reduce parking demand pressure and car use," Transport Policy, Elsevier, vol. 73(C), pages 41-50.
    28. Liangpeng Gao & Yanjie Ji & Xingchen Yan & Yao Fan & Weihong Guo, 2021. "Incentive measures to avoid the illegal parking of dockless shared bikes: the relationships among incentive forms, intensity and policy compliance," Transportation, Springer, vol. 48(2), pages 1033-1060, April.
    29. Zhang, Rong & Zhu, Lichao, 2016. "Curbside parking pricing in a city centre using a threshold," Transport Policy, Elsevier, vol. 52(C), pages 16-27.
    30. Huanmei Qin & Ning Xu & Yonghuan Zhang & Qianqian Pang & Zhaolin Lu, 2023. "Research on Parking Recommendation Methods Considering Travelers’ Decision Behaviors and Psychological Characteristics," Sustainability, MDPI, vol. 15(8), pages 1-22, April.
    31. Evangelinos, Christos & Tscharaktschiew, Stefan & Marcucci, Edoardo & Gatta, Valerio, 2018. "Pricing workplace parking via cash-out: Effects on modal choice and implications for transport policy," Transportation Research Part A: Policy and Practice, Elsevier, vol. 113(C), pages 369-380.
    32. Michele Ottomanelli & Mauro Dell'Orco & Domenico Sassanelli, 2011. "Modelling parking choice behaviour using Possibility Theory," Transportation Planning and Technology, Taylor & Francis Journals, vol. 34(7), pages 647-667, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jun Li & Sifan Wu & Xiaoman Feng, 2021. "Optimization of On-Street Parking Charges Based on Price Elasticity of the Expected Perceived Parking Cost," Sustainability, MDPI, vol. 13(10), pages 1-13, May.
    2. Gragera, Albert & Hybel, Jesper & Madsen, Edith & Mulalic, Ismir, 2021. "A model for estimation of the demand for on-street parking," Economics of Transportation, Elsevier, vol. 28(C).
    3. Zipeng Zhang & Ning Zhang, 2021. "Early Bird Scheme for Parking Management: How Does Parking Play a Role in the Morning Commute Problem," Sustainability, MDPI, vol. 13(15), pages 1-19, July.
    4. Lu, Xiao-Shan & Huang, Hai-Jun & Guo, Ren-Yong & Xiong, Fen, 2021. "Linear location-dependent parking fees and integrated daily commuting patterns with late arrival and early departure in a linear city," Transportation Research Part B: Methodological, Elsevier, vol. 150(C), pages 293-322.
    5. Parmar, Janak & Saiyed, Gulnazbanu & Dave, Sanjaykumar, 2023. "Analysis of taste heterogeneity in commuters’ travel decisions using joint parking– and mode–choice model: A case from urban India," Transportation Research Part A: Policy and Practice, Elsevier, vol. 170(C).
    6. Inci, Eren & Lindsey, Robin, 2015. "Garage and curbside parking competition with search congestion," Regional Science and Urban Economics, Elsevier, vol. 54(C), pages 49-59.
    7. Geva, Sharon & Fulman, Nir & Ben-Elia, Eran, 2022. "Getting the prices right: Drivers' cruising choices in a serious parking game," Transportation Research Part A: Policy and Practice, Elsevier, vol. 165(C), pages 54-75.
    8. Tscharaktschiew, Stefan & Reimann, Felix, 2023. "The economics of speed choice and control in the presence of driverless vehicle cruising and parking-as-a-substitute-for-cruising," Transportation Research Part B: Methodological, Elsevier, vol. 178(C).
    9. Krishnamurthy, Chandra Kiran B. & Ngo, Nicole S., 2020. "The effects of smart-parking on transit and traffic: Evidence from SFpark," Journal of Environmental Economics and Management, Elsevier, vol. 99(C).
    10. Lu, Xiao-Shan & Guo, Ren-Yong & Huang, Hai-Jun & Xu, Xiaoming & Chen, Jiajia, 2021. "Equilibrium analysis of parking for integrated daily commuting," Research in Transportation Economics, Elsevier, vol. 90(C).
    11. Huanmei Qin & Ning Xu & Yonghuan Zhang & Qianqian Pang & Zhaolin Lu, 2023. "Research on Parking Recommendation Methods Considering Travelers’ Decision Behaviors and Psychological Characteristics," Sustainability, MDPI, vol. 15(8), pages 1-22, April.
    12. Liu, Wei & Geroliminis, Nikolas, 2016. "Modeling the morning commute for urban networks with cruising-for-parking: An MFD approach," Transportation Research Part B: Methodological, Elsevier, vol. 93(PA), pages 470-494.
    13. Ardeshiri, Ali & Safarighouzhdi, Farshid & Hossein Rashidi, Taha, 2021. "Measuring willingness to pay for shared parking," Transportation Research Part A: Policy and Practice, Elsevier, vol. 152(C), pages 186-202.
    14. Gu, Ziyuan & Safarighouzhdi, Farshid & Saberi, Meead & Rashidi, Taha H., 2021. "A macro-micro approach to modeling parking," Transportation Research Part B: Methodological, Elsevier, vol. 147(C), pages 220-244.
    15. Pons-Rigat, Aleix & Proost, Stef & Turró, Mateu, 2020. "Workplace parking policies in an agglomeration: An illustration for Barcelona," Economics of Transportation, Elsevier, vol. 24(C).
    16. Eliasson, Jonas & Börjesson, Maria, 2022. "Costs and benefits of parking charges in residential areas," Transportation Research Part B: Methodological, Elsevier, vol. 166(C), pages 95-109.
    17. Takayama, Yuki & Kuwahara, Masao, 2016. "Scheduling preferences, parking competition, and bottleneck congestion: A model of trip timing and parking location choices by heterogeneous commuters," MPRA Paper 68938, University Library of Munich, Germany.
    18. Janak Parmar & Gulnazbanu Saiyed & Sanjaykumar Dave, 2021. "Analysis of taste heterogeneity in commuters travel decisions using joint parking and mode choice model: A case from urban India," Papers 2109.01045, arXiv.org, revised Oct 2023.
    19. Gössling, Stefan & Humpe, Andreas & Hologa, Rafael & Riach, Nils & Freytag, Tim, 2022. "Parking violations as an economic gamble for public space," Transport Policy, Elsevier, vol. 116(C), pages 248-257.
    20. Brudner, Amir, 2023. "On the management of residential on-street parking: Policies and repercussions," Transport Policy, Elsevier, vol. 138(C), pages 94-107.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:trapol:v:142:y:2023:i:c:p:46-58. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/30473/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.