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The on-street parking premium and car drivers' choice between street and garage parking

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  • Kobus, Martijn B.W.
  • Gutiérrez-i-Puigarnau, Eva
  • Rietveld, Piet
  • Van Ommeren, Jos N.

Abstract

We introduce a methodology to estimate the effect of parking prices on car drivers' choice between street and garage parking. Our key identifying assumption is that the marginal benefit of parking duration does not depend on this choice. The endogeneity of parking duration is acknowledged in the estimation procedure. We apply the methodology during daytime hours to an area where cruising for parking is absent, street parking is ubiquitous and garage parking is discretely located over space. So, in this area, the average distance to the final destination is longer for garage parking than for street parking. We find that drivers are willing to pay a premium for street parking which ranges from € 0.37 to € 0.60. Given a parking duration of 1h, we find that the demand for street parking is price elastic: the price elasticity of demand for the share of street parking is −5.5. However, this price elasticity is much smaller for shorter parking durations. Our estimates imply that even small reductions in street parking prices induce a strong increase in the stock of cars parked on-street. Our estimates also imply that a policy which contains a street premium (so street prices exceed garage prices) is welfare improving, because drivers with longer parking durations are induced to use parking locations that are, on average, farther away, so this policy reduces total walking time.

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Bibliographic Info

Article provided by Elsevier in its journal Regional Science and Urban Economics.

Volume (Year): 43 (2013)
Issue (Month): 2 ()
Pages: 395-403

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Handle: RePEc:eee:regeco:v:43:y:2013:i:2:p:395-403

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Related research

Keywords: Street parking; Garage parking; Parking policy;

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References

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  1. Jos van Ommeren & Derk Wentink & Jasper Dekkers, 2009. "The Real Price Of Parking Policy," Tinbergen Institute Discussion Papers 09-083/3, Tinbergen Institute.
  2. Richard Arnott & Eren Inci, 2005. "An Integrated Model of Downtown Parking and Traffic Congestion," Boston College Working Papers in Economics 608, Boston College Department of Economics.
  3. Richard Arnott & John Rowse, 2007. "Downtown Parking in Auto City," Boston College Working Papers in Economics 665, Boston College Department of Economics.
  4. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1991. "A temporal and spatial equilibrium analysis of commuter parking," Journal of Public Economics, Elsevier, vol. 45(3), pages 301-335, August.
  5. Arnott, Richard & Inci, Eren & Rowse, John, 2011. "Downtown Parking and Traffic Congestion: A Diagrammatic Exposition," University of California Transportation Center, Working Papers qt4sb0975r, University of California Transportation Center.
  6. Jos van Ommeren & Derk Wentink & Piet Rietveld, 2010. "Empirical Evidence on Cruising for Parking," Tinbergen Institute Discussion Papers 10-028/3, Tinbergen Institute.
  7. Arnott, Richard, 2006. "Spatial competition between parking garages and downtown parking policy," Transport Policy, Elsevier, vol. 13(6), pages 458-469, November.
  8. Glazer, Amihai & Niskanen, Esko, 2001. "Parking fees and congestion," University of California Transportation Center, Working Papers qt9h51t02k, University of California Transportation Center.
  9. Jos Van Ommeren & Derk Wentink, 2012. "The (Hidden) Cost Of Employer Parking Policies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(3), pages 965-978, 08.
  10. John Golias & George Yannis & Michel Harvatis, 2002. "Off-Street Parking Choice Sensitivity," Transportation Planning and Technology, Taylor & Francis Journals, vol. 25(4), pages 333-348, January.
  11. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  12. Edward Calthrop & Stef Proost, 2004. "Regulating on-street parking," Energy, Transport and Environment Working Papers Series ete0410, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Energy, Transport and Environment.
  13. Anderson, Simon P. & de Palma, Andre, 2004. "The economics of pricing parking," Journal of Urban Economics, Elsevier, vol. 55(1), pages 1-20, January.
  14. Shoup, Donald C., 2006. "Cruising for Parking," University of California Transportation Center, Working Papers qt55s7079f, University of California Transportation Center.
  15. Shoup, Donald C., 2006. "Cruising for parking," Transport Policy, Elsevier, vol. 13(6), pages 479-486, November.
  16. Hasker, Kevin & Inci, Eren, 2012. "Free Parking for All in Shopping Malls," MPRA Paper 35978, University Library of Munich, Germany.
  17. Kelly, J. Andrew & Clinch, J. Peter, 2009. "Temporal variance of revealed preference on-street parking price elasticity," Transport Policy, Elsevier, vol. 16(4), pages 193-199, August.
  18. Hensher, David A. & King, Jenny, 2001. "Parking demand and responsiveness to supply, pricing and location in the Sydney central business district," Transportation Research Part A: Policy and Practice, Elsevier, vol. 35(3), pages 177-196, March.
  19. Andrew Kelly, J. & Peter Clinch, J., 2006. "Influence of varied parking tariffs on parking occupancy levels by trip purpose," Transport Policy, Elsevier, vol. 13(6), pages 487-495, November.
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Cited by:
  1. Arnott, Richard & Rowse, John, 2011. "Curbside Parking Time Limits," University of California Transportation Center, Working Papers qt3627c218, University of California Transportation Center.
  2. van Ommeren, Jos & de Groote, Jesper & Mingardo, Giuliano, 2014. "Residential parking permits and parking supply," Regional Science and Urban Economics, Elsevier, vol. 45(C), pages 33-44.

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