An Integrated Model of Downtown Parking and Traffic Congestion
AbstractThis paper presents a downtown parking model that integrates traffic congestion and saturated on-street parking. We assume that the stock of cars cruising for parking adds to traffic congestion. Two major results come out from the model, one of which is robust. The robust one is that, whether or not the amount of on-street parking is optimal, it is efficient to raise the on-street parking fee to the point where cruising for parking is eliminated without parking becoming unsaturated. The other is that, if the parking fee is fixed at a sub-optimal level, it is second-best optimal to increase the amount of curbside allocated to parking until cruising for parking is eliminated without parking becoming unsaturated.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 11118.
Date of creation: Feb 2005
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Other versions of this item:
- 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.
- 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.
- R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-02-20 (All new papers)
- NEP-GEO-2005-02-20 (Economic Geography)
- NEP-URE-2005-02-20 (Urban & Real Estate Economics)
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