IDEAS home Printed from https://ideas.repec.org/a/eee/trapol/v155y2024icp110-123.html
   My bibliography  Save this article

Evolutionary analysis of participation behavior of shared parking in traditional business district

Author

Listed:
  • Guo, Jun
  • Guan, Hongzhi
  • Han, Yan
  • Li, Wanying

Abstract

This paper explores ways to promote the Shared Parking Business Economy Model (SPBEM) in traditional business districts (TBD) to mitigate their declining survival. A microscopic four-party evolutionary game model investigates the mechanisms behind the complex interactions among four typical businesses in TBD. Evolutionary stability is also analyzed based on three different scenarios. Secondly, this paper examines the limited rationality of participants and sifts the impact of significant factors on the dynamic evolution process by using the cumulative prospect theory and the quantitative equation of the conformity effect. The paper validates the game model and main conclusions through realistic scenarios and numerical simulations. Finally, the four main types of parameters are extensively discussed. The findings suggest that the implementation of SPBEM could enhance the economic development of TBD. Furthermore, successful promotion of SPBEM in TBD demands coordinated efforts from the four types of businesses. Initial participation probability, proportion of parking slots, historical average customer flow, and cooperation revenue all positively influence participation behavior; and promoting SPBEM in TBD requires coordination between the four business types. These findings serve as valuable references for TBD managers and operators in their decision-making processes.

Suggested Citation

  • Guo, Jun & Guan, Hongzhi & Han, Yan & Li, Wanying, 2024. "Evolutionary analysis of participation behavior of shared parking in traditional business district," Transport Policy, Elsevier, vol. 155(C), pages 110-123.
    • Handle: RePEc:eee:trapol:v:155:y:2024:i:c:p:110-123
    DOI: 10.1016/j.tranpol.2024.01.016
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0967070X24000246
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.tranpol.2024.01.016?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. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    2. Xueyan Li & Jing Li, 2021. "A freight transport price optimization model with multi bounded-rational customers," Transportation, Springer, vol. 48(1), pages 477-504, February.
    3. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    4. Tang, Yanyan & Zhang, Qi & Mclellan, Benjamin & Li, Hailong, 2018. "Study on the impacts of sharing business models on economic performance of distributed PV-Battery systems," Energy, Elsevier, vol. 161(C), pages 544-558.
    5. Xu, Fangyuan & Chen, Xujie & Zhang, Miao & Zhou, Ya & Cai, Yanpeng & Zhou, Yang & Tang, Ruixin & Wang, Yifei, 2020. "A sharing economy market system for private EV parking with consideration of demand side management," Energy, Elsevier, vol. 190(C).
    6. Daniel Kahneman & Dan Lovallo, 1993. "Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking," Management Science, INFORMS, vol. 39(1), pages 17-31, January.
    7. Xiao, Haohan & Xu, Meng & Gao, Ziyou, 2018. "Shared parking problem: A novel truthful double auction mechanism approach," Transportation Research Part B: Methodological, Elsevier, vol. 109(C), pages 40-69.
    8. Weitzman, Martin L, 1983. "Some Macroeconomic Implications of Alternative Compensation Systems," Economic Journal, Royal Economic Society, vol. 93(372), pages 763-783, December.
    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. Daniel Fonseca Costa & Francisval Carvalho & Bruno César Moreira & José Willer Prado, 2017. "Bibliometric analysis on the association between behavioral finance and decision making with cognitive biases such as overconfidence, anchoring effect and confirmation bias," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(3), pages 1775-1799, June.
    2. Uri Gneezy & Jan Potters, 1997. "An Experiment on Risk Taking and Evaluation Periods," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 631-645.
    3. Barberis, Nicholas & Huang, Ming, 2009. "Preferences with frames: A new utility specification that allows for the framing of risks," Journal of Economic Dynamics and Control, Elsevier, vol. 33(8), pages 1555-1576, August.
    4. repec:cup:judgdm:v:11:y:2016:i:4:p:361-379 is not listed on IDEAS
    5. Thomas Langer & Martin Weber, 2001. "Prospect Theory, Mental Accounting, and Differences in Aggregated and Segregated Evaluation of Lottery Portfolios," Management Science, INFORMS, vol. 47(5), pages 716-733, May.
    6. Chi, Yichun & Zheng, Jiakun & Zhuang, Shengchao, 2022. "S-shaped narrow framing, skewness and the demand for insurance," Insurance: Mathematics and Economics, Elsevier, vol. 105(C), pages 279-292.
    7. Alex S. L. Tse & Harry Zheng, 2023. "Speculative trading, prospect theory and transaction costs," Finance and Stochastics, Springer, vol. 27(1), pages 49-96, January.
    8. Jiakun Zheng, 2020. "Optimal insurance design under narrow framing," Post-Print hal-04227370, HAL.
    9. Zheng, Jiakun, 2020. "Optimal insurance design under narrow framing," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 596-607.
    10. Schwaiger, Rene & Hueber, Laura, 2021. "Do MTurkers exhibit myopic loss aversion?," Economics Letters, Elsevier, vol. 209(C).
    11. Monika Bolek & Rafal Wolski, 2019. "Rationality of more and less experienced groups of finance professionals. Example of Poland," Proceedings of International Academic Conferences 9912031, International Institute of Social and Economic Sciences.
    12. Daniel Gottlieb & Olivia S. Mitchell, 2020. "Narrow Framing and Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(4), pages 861-893, December.
    13. Stefan Schiller, 2017. "The Quest for Rationality: Chief Financial Officers’ and Accounting Master’s Students’ Perception of Economic Rationality," SAGE Open, , vol. 7(2), pages 21582440177, April.
    14. repec:cup:judgdm:v:12:y:2017:i:6:p:553-562 is not listed on IDEAS
    15. James S. Dyer & James E. Smith, 2021. "Innovations in the Science and Practice of Decision Analysis: The Role of Management Science," Management Science, INFORMS, vol. 67(9), pages 5364-5378, September.
    16. Alex Markle & George Wu & Rebecca White & Aaron Sackett, 2018. "Goals as reference points in marathon running: A novel test of reference dependence," Journal of Risk and Uncertainty, Springer, vol. 56(1), pages 19-50, February.
    17. Hönl, Andreas & Meissner, Philip & Wulf, Torsten, 2017. "Risk attribution theory: An exploratory conceptualization of individual choice under uncertainty," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 67(C), pages 20-27.
    18. Brünner, Tobias & Reiner, Jochen & Natter, Martin & Skiera, Bernd, 2019. "Prospect theory in a dynamic game: Theory and evidence from online pay-per-bid auctions," Journal of Economic Behavior & Organization, Elsevier, vol. 164(C), pages 215-234.
    19. Pindard-Lejarraga, Maud & Lejarraga, José, 2024. "Information source and entrepreneurial performance expectations: Experience-based versus description-based opportunity evaluations," Journal of Business Research, Elsevier, vol. 172(C).
    20. Martin Koudstaal & Randolph Sloof & Mirjam van Praag, 2016. "Risk, Uncertainty, and Entrepreneurship: Evidence from a Lab-in-the-Field Experiment," Management Science, INFORMS, vol. 62(10), pages 2897-2915, October.
    21. Marja-Liisa Halko & Markku Kaustia, 2015. "Risk ON / Risk OFF: Risk-Taking Varies with Subjectively Preferred and Disliked Music," PLOS ONE, Public Library of Science, vol. 10(8), pages 1-16, August.
    22. David Hirshleife, 2015. "Behavioral Finance," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 133-159, December.

    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:155:y:2024:i:c:p:110-123. 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.