IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v16y2023i1p28-d1303267.html
   My bibliography  Save this article

Analysis of the Potential Economic Impact of Parking Space Comprehensive Utilization on Traditional Business District

Author

Listed:
  • Jun Guo

    (Faculty of Urban Construction, Beijing University of Technology, Beijing 100124, China)

  • Hongzhi Guan

    (Faculty of Urban Construction, Beijing University of Technology, Beijing 100124, China)

  • Yan Han

    (Beijing Key Laboratory of Traffic Engineering, Beijing University of Technology, Beijing 100124, China)

  • Yunqiang Xue

    (School of Transport Engineering, East China Jiaotong University, Nanchang 330013, China)

Abstract

This paper investigates the latent classes of parking preference for drivers and the economic effects after implementing Parking Space Comprehensive Utilization (PSC) in traditional business districts (TBD), with a particular focus on the parking preferences of electric vehicle users (EVU). Firstly, Exploratory Factor Analysis (EFA) is used to reduce dimensionality and determine the latent structure. Then, based on the Latent Class Model (LCM), the customers are classified, and the proportion of each class under various latent variables is analyzed. Finally, the paper conducts a quantitative analysis of economic effects by considering different psychological factors across different customer classes. With the data obtained from revealed preference (RP) and stated preference (SP) surveys, this paper identifies the customers’ preferences for the three scenarios presented. The results show that (1) customers can be classified into four classes: core customers (CCS, 34%), potential customers (PCS, 29%), regular customers (RCS, 22%), and marginal customers (MCS, 15%), among which EVU do not show a significant preference for parking charging facilities in TBD; (2) the potential economic improvements for these four classes are: 9%, 12%, 8%, and 10%; (3) CCS has the greatest potential to increase store revenue by ¥7041, while PCS has the greatest potential to increase store customer flow by 31%. These findings provide a valuable reference for decision-making by TBD store managers.

Suggested Citation

  • Jun Guo & Hongzhi Guan & Yan Han & Yunqiang Xue, 2023. "Analysis of the Potential Economic Impact of Parking Space Comprehensive Utilization on Traditional Business District," Sustainability, MDPI, vol. 16(1), pages 1-26, December.
    • Handle: RePEc:gam:jsusta:v:16:y:2023:i:1:p:28-:d:1303267
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/16/1/28/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/16/1/28/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Liang, Jyun-Kai & Eccarius, Timo & Lu, Chung-Cheng, 2019. "Investigating factors that affect the intention to use shared parking: A case study of Taipei City," Transportation Research Part A: Policy and Practice, Elsevier, vol. 130(C), pages 799-812.
    2. Tai-Yu Ma & Philippe Gerber & Samuel Carpentier & Sylvain Klein, 2015. "Mode choice with latent preference heterogeneity: a case study for employees of the EU institutions in Luxembourg," Post-Print halshs-01132437, HAL.
    3. Xiao, Haohan & Xu, Meng & Gao, Ziyou, 2018. "Shared parking problem: A novel truthful double auction mechanism approach," Transportation Research Part B: Methodological, Elsevier, vol. 109(C), pages 40-69.
    4. Niu, Zhipeng & Hu, Xiaowei & Qi, Shouming & Yang, Haihua & Wang, Siqing & An, Shi, 2021. "Determinants to parking mode alternatives: A model integrating technology acceptance model and satisfaction–loyalty model," Transportation Research Part A: Policy and Practice, Elsevier, vol. 152(C), pages 216-234.
    5. Patt, Anthony & Aplyn, David & Weyrich, Philippe & van Vliet, Oscar, 2019. "Availability of private charging infrastructure influences readiness to buy electric cars," Transportation Research Part A: Policy and Practice, Elsevier, vol. 125(C), pages 1-7.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ardeshiri, Ali & Safarighouzhdi, Farshid & Hossein Rashidi, Taha, 2021. "Measuring willingness to pay for shared parking," Transportation Research Part A: Policy and Practice, Elsevier, vol. 152(C), pages 186-202.
    2. Ning, Yu & Yan, Mian & Xu, Su Xiu & Li, Yina & Li, Lixu, 2021. "Shared parking acceptance under perceived network externality and risks: Theory and evidence," Transportation Research Part A: Policy and Practice, Elsevier, vol. 150(C), pages 1-15.
    3. Xiao, Haohan & Xu, Meng, 2022. "Modelling bidding behaviors in shared parking auctions considering anticipated regrets," Transportation Research Part A: Policy and Practice, Elsevier, vol. 161(C), pages 88-106.
    4. Wang, Yuanyuan & Chi, Yuanying & Xu, Jin-Hua & Yuan, Yongke, 2022. "Consumers’ attitudes and their effects on electric vehicle sales and charging infrastructure construction: An empirical study in China," Energy Policy, Elsevier, vol. 165(C).
    5. Stergios Statharas & Yannis Moysoglou & Pelopidas Siskos & Pantelis Capros, 2021. "Simulating the Evolution of Business Models for Electricity Recharging Infrastructure Development by 2030: A Case Study for Greece," Energies, MDPI, vol. 14(9), pages 1-24, April.
    6. Xiao, Haohan & Xu, Meng & Yang, Hai, 2020. "Pricing strategies for shared parking management with double auction approach: Differential price vs. uniform price," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 136(C).
    7. Kong, Xiang T.R. & Kang, Kai & Zhong, Ray Y. & Luo, Hao & Xu, Su Xiu, 2021. "Cyber physical system-enabled on-demand logistics trading," International Journal of Production Economics, Elsevier, vol. 233(C).
    8. Lequn Zhu & Ran Zhou & Xiaojun Li & Linlin Zhang, 2023. "An Evolutionary Game Analysis of Shared Private Charging Pile Behavior in Low-Carbon Urban Traffic," Sustainability, MDPI, vol. 15(13), pages 1-17, June.
    9. Mo, Baichuan & Kong, Hui & Wang, Hao & Wang, Xiaokun (Cara) & Li, Ruimin, 2021. "Impact of pricing policy change on on-street parking demand and user satisfaction: A case study in Nanning, China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 148(C), pages 445-469.
    10. Sun, Yanshuo & Gong, Hengye & Guo, Qianwen & Schonfeld, Paul & Li, Zhongfei, 2020. "Regulating a public transit monopoly under asymmetric cost information," Transportation Research Part B: Methodological, Elsevier, vol. 139(C), pages 496-522.
    11. Samia Elattar & Hind Albalawi & Wafaa Saleh, 2023. "Parking Charges: Ingeniously Effective and Publicly Accepted in Riyadh?," Sustainability, MDPI, vol. 15(5), pages 1-11, March.
    12. Bian, Zheyong & Liu, Xiang & Bai, Yun, 2020. "Mechanism design for on-demand first-mile ridesharing," Transportation Research Part B: Methodological, Elsevier, vol. 138(C), pages 77-117.
    13. Yan, Qianqian & Feng, Tao & Timmermans, Harry, 2023. "A model of household shared parking decisions incorporating equity-seeking household dynamics and leadership personality traits," Transportation Research Part A: Policy and Practice, Elsevier, vol. 169(C).
    14. Xi, Haoning & Liu, Wei & Waller, S. Travis & Hensher, David A. & Kilby, Philip & Rey, David, 2023. "Incentive-compatible mechanisms for online resource allocation in Mobility-as-a-Service systems," Transportation Research Part B: Methodological, Elsevier, vol. 170(C), pages 119-147.
    15. Kim, Sung Hoo & Mokhtarian, Patricia L., 2023. "Finite mixture (or latent class) modeling in transportation: Trends, usage, potential, and future directions," Transportation Research Part B: Methodological, Elsevier, vol. 172(C), pages 134-173.
    16. Sommer, Stephan & Vance, Colin, 2021. "Do more chargers mean more electric cars?," Ruhr Economic Papers 893, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    17. Tan, Bing Qing & Xu, Su Xiu & Kang, Kai & Xu, Gangyan & Qin, Wei, 2021. "A reverse Vickrey auction for physical internet (PI) enabled parking management systems," International Journal of Production Economics, Elsevier, vol. 235(C).
    18. Wang, Xiaotian & Wang, Xin, 2019. "Flexible parking reservation system and pricing: A continuum approximation approach," Transportation Research Part B: Methodological, Elsevier, vol. 128(C), pages 408-434.
    19. Khatua, Apalak & Ranjan Kumar, Rajeev & Kumar De, Supriya, 2023. "Institutional enablers of electric vehicle market: Evidence from 30 countries," Transportation Research Part A: Policy and Practice, Elsevier, vol. 170(C).
    20. Scorrano, Mariangela & Danielis, Romeo & Giansoldati, Marco, 2020. "Dissecting the total cost of ownership of fully electric cars in Italy: The impact of annual distance travelled, home charging and urban driving," Research in Transportation Economics, Elsevier, vol. 80(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:16:y:2023:i:1:p:28-:d:1303267. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.