Regulating on-street parking
AbstractConsider a shopper or tourist driving downtown and trying to park. Two strategies are usually available: either park at a private off-street facility or search for a cheaper on-street spot. We formalise such a setting and use the model to study optimal government regulation of the on-street parking market. It is shown that the optimal on-street fee equals the marginal cost of off-street supply at the optimal quantity. If the off-street market is supplied under constant returns to scale, this provides a particular simple operational rule: the price on street should match that off street. We also extend the model to consider maximum length of stay restrictions and non-competitive private supply. A numerical model, calibrated to central London, investigates the magnitude of an optimal fee.
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Bibliographic InfoPaper provided by Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Energy, Transport and Environment in its series Energy, Transport and Environment Working Papers Series with number ete0410.
Length: 47 pages
Date of creation: Aug 2004
Date of revision:
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Other versions of this item:
- Edward Calthrop & Stef Proost, 2002. "Regulating on-street parking," Energy, Transport and Environment Working Papers Series ete0202, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Energy, Transport and Environment.
- R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
- L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
- H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-12-02 (All new papers)
- NEP-GEO-2004-12-02 (Economic Geography)
- NEP-REG-2004-12-02 (Regulation)
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"Regulating on-street parking,"
Energy, Transport and Environment Working Papers Series
ete0202, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Energy, Transport and Environment.
- 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.
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