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The Real Price Of Parking Policy

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  • Jos van Ommeren

    (VU University Amsterdam)

  • Derk Wentink

    (VU University Amsterdam)

  • Jasper Dekkers

    (VU University Amsterdam)

Abstract

This paper is the first to empirically examine the residents' willingness to pay for on-street parking permits as well as the cost of cruising using an identification methodology based on house prices for Amsterdam. The average cost of cruising is €1.30 per day. The average residents' willingness to pay for a parking permit is €8 per day. Further, we show that the introduction of paid parking in a neighborhood decreases house prices in this neighbourhood. This discussion paper has resulted in a publication in the Journal of Urban Economics .

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 09-083/3.

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Date of creation: 30 Sep 2009
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Handle: RePEc:dgr:uvatin:20090083

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Web page: http://www.tinbergen.nl

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Keywords: on-street parking; cruising; parking policy; parking permits;

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References

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  1. Kenneth A. Small & Clifford Winston & Jia Yan, 2005. "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability," Econometrica, Econometric Society, Econometric Society, vol. 73(4), pages 1367-1382, 07.
  2. Shoup, Donald C., 2006. "Cruising for Parking," University of California Transportation Center, Working Papers qt55s7079f, University of California Transportation Center.
  3. Gautier, Pieter A. & Siegmann, Arjen & Van Vuuren, Aico, 2009. "Terrorism and attitudes towards minorities: The effect of the Theo van Gogh murder on house prices in Amsterdam," Journal of Urban Economics, Elsevier, vol. 65(2), pages 113-126, March.
  4. Jos van Ommeren & Derk Wentink & Piet Rietveld, 2010. "Empirical Evidence on Cruising for Parking," Tinbergen Institute Discussion Papers 10-028/3, Tinbergen Institute.
  5. 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.
  6. van Ommeren, Jos & Fosgerau, Mogens, 2008. "Workers' marginal costs of commuting," MPRA Paper 12010, University Library of Munich, Germany.
  7. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  8. 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.
  9. Van Ommeren, Jos & Rietveld, Piet, 2005. "The commuting time paradox," Journal of Urban Economics, Elsevier, vol. 58(3), pages 437-454, November.
  10. Shoup, Donald C., 2004. "The ideal source of local public revenue," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 753-784, November.
  11. Glazer, Amihai & Niskanen, Esko, 2001. "Parking fees and congestion," University of California Transportation Center, Working Papers qt9h51t02k, University of California Transportation Center.
  12. Proost, Stef & Dender, Kurt Van, 2008. "Optimal urban transport pricing in the presence of congestion, economies of density and costly public funds," Transportation Research Part A: Policy and Practice, Elsevier, vol. 42(9), pages 1220-1230, November.
  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," Transport Policy, Elsevier, vol. 13(6), pages 479-486, November.
  15. Goodman, Allen C. & Thibodeau, Thomas G., 2003. "Housing market segmentation and hedonic prediction accuracy," Journal of Housing Economics, Elsevier, Elsevier, vol. 12(3), pages 181-201, September.
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  17. 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.
  18. repec:ucp:bkecon:9781884829987 is not listed on IDEAS
  19. Richard Arnott & John Rowse, 1997. "Modeling Parking," Boston College Working Papers in Economics 350., Boston College Department of Economics.
  20. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  21. Arnott, Richard, 2006. "Spatial competition between parking garages and downtown parking policy," Transport Policy, Elsevier, vol. 13(6), pages 458-469, November.
  22. Jia, Wenyu & Wachs, Martin, 1998. "Parking and Affordable Housing," University of California Transportation Center, Working Papers qt3cn3q9qk, University of California Transportation Center.
  23. DE BORGER, Bruno & WUYTS, Bart, 2007. "Commuting, transport tax reform and the labour market: Employer-paid parking and the relative efficiency of revenue recycling instruments," Working Papers 2007020, University of Antwerp, Faculty of Applied Economics.
  24. Stevenson, Simon, 2004. "New empirical evidence on heteroscedasticity in hedonic housing models," Journal of Housing Economics, Elsevier, Elsevier, vol. 13(2), pages 136-153, June.
  25. Shoup, Donald C., 2004. "The Ideal Source of Local Public Revenue," University of California Transportation Center, Working Papers qt3x03s541, University of California Transportation Center.
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Citations

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Cited by:
  1. Richard J. Arnott & Eren Inci & John Rowse, 2013. "Downtown Curbside Parking Capacity," CESifo Working Paper Series 4085, CESifo Group Munich.
  2. Inga Molenda & Gernot Sieg, 2013. "Residential Parking in Vibrant City Districts," Working Papers, Institute of Transport Economics, University of Muenster 18, Institute of Transport Economics, University of Muenster.
  3. Martijn Kobus & Eva Gutierrez Puigarnau & Piet Rietveld & Jos Van Ommeren, 2012. "The On-Street Parking Premium and Car Drivers' Choice between Street and Garage Parking," Tinbergen Institute Discussion Papers 12-040/3, Tinbergen Institute.
  4. 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.
  5. repec:dgr:uvatin:2012040 is not listed on IDEAS
  6. Mogens Fosgerau & André De Palma, 2012. "The dynamics of urban traffic congestion and the price of parking," Working Papers hal-00742104, HAL.
  7. Fosgerau, Mogens & de Palma, André, 2013. "The dynamics of urban traffic congestion and the price of parking�," MPRA Paper 48433, University Library of Munich, Germany.
  8. Hasker, Kevin & Inci, Eren, 2012. "Free Parking for All in Shopping Malls," MPRA Paper 35978, University Library of Munich, Germany.
  9. Jos van Ommeren & Derk Wentink & Piet Rietveld, 2010. "Empirical Evidence on Cruising for Parking," Tinbergen Institute Discussion Papers 10-028/3, Tinbergen Institute.
  10. 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.
  11. Ioulia Ossokina & Gerard Verweij, 2014. "Urban traffic externalities: quasi-experimental evidence from housing prices," CPB Discussion Paper 267, CPB Netherlands Bureau for Economic Policy Analysis.
  12. Van Ommeren, Jos & Graaf-de Zijl, Marloes, 2013. "Estimating household demand for housing attributes in rent-controlled markets," Journal of Housing Economics, Elsevier, Elsevier, vol. 22(1), pages 11-19.
  13. Guo, Zhan & McDonnell, Simon, 2013. "Curb parking pricing for local residents: An exploration in New York City based on willingness to pay," Transport Policy, Elsevier, vol. 30(C), pages 186-198.

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