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A model for estimation of the demand for on-street parking

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  • Madsen, Edith
  • Mulalic, Ismir
  • Pilegaard, Ninette

Abstract

This paper presents a stylized econometric model for the demand for on-street parking with focus on estimation of the elasticity of demand with respect to the full cost of parking. The full cost of parking consists of a parking fee and the cost of searching for a vacant parking space (cruising). The cost of cruising is usually unobserved. Ignoring this issue implies a downward bias of the elasticity of demand with respect to the total cost of parking since the cost of cruising depends on the number of cars parked. We also demonstrate that, even when the cost of cruising is unobserved, the demand elasticity can be identified by extending the econometric model to include the spatial interaction between the parking facilities. We illustrate the model with on-street parking data from Copenhagen and find indications of a somewhat greater parking demand elasticity than is usually reported in the literature.

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File URL: http://mpra.ub.uni-muenchen.de/52361/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 52301.

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Date of creation: 16 Dec 2013
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Handle: RePEc:pra:mprapa:52301

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Keywords: on-street parking; demand estimation.;

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References

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  1. Glazer, Amihai & Niskanen, Esko, 2001. "Parking fees and congestion," University of California Transportation Center, Working Papers qt9h51t02k, University of California Transportation Center.
  2. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1993. "A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand," American Economic Review, American Economic Association, vol. 83(1), pages 161-79, March.
  3. 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.
  4. 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.
  5. Lung-Fei Lee, 2004. "Asymptotic Distributions of Quasi-Maximum Likelihood Estimators for Spatial Autoregressive Models," Econometrica, Econometric Society, vol. 72(6), pages 1899-1925, November.
  6. Fosgerau, Mogens & de Palma, André, 2013. "The dynamics of urban traffic congestion and the price of parking," Journal of Public Economics, Elsevier, vol. 105(C), pages 106-115.
  7. Richard J. Arnott & Eren Inci & John Rowse, 2013. "Downtown Curbside Parking Capacity," CESifo Working Paper Series 4085, CESifo Group Munich.
  8. Lee, Lung-fei, 2007. "Identification and estimation of econometric models with group interactions, contextual factors and fixed effects," Journal of Econometrics, Elsevier, vol. 140(2), pages 333-374, October.
  9. 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.
  10. 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.
  11. Marsden, Greg, 2006. "The evidence base for parking policies--a review," Transport Policy, Elsevier, vol. 13(6), pages 447-457, November.
  12. Steve Gibbons & Henry G. Overman, 2010. "Mostly Pointless Spatial Econometrics?," SERC Discussion Papers 0061, Spatial Economics Research Centre, LSE.
  13. Richard Arnott & Tilmann Rave & Ronnie Schöb, 2005. "Alleviating Urban Traffic Congestion," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012197, December.
  14. Richard Arnott, 1990. "A Temporal and Spatial Equilibrium Analysis of Commuter Parking," Discussion Papers 884, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  15. Anderson, Simon P. & de Palma, Andre, 2004. "The economics of pricing parking," Journal of Urban Economics, Elsevier, vol. 55(1), pages 1-20, January.
  16. repec:ucp:bkecon:9781884829987 is not listed on IDEAS
  17. 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.
  18. 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.
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