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Author:

Wang, P.-F. (Wang, P.-F..) | Guan, H.-Z. (Guan, H.-Z..) (Scholars:关宏志)

Indexed by:

Scopus PKU CSCD

Abstract:

To clarify the mechanism of optimal pricing for public off-street parking facilities and its implementation method, this paper establishes a basic model and an extension model that can determine the optimal price for parking facilities based on parking permits. In the basic model, firstly, using users' valuation for parking permits, we establish a model that can determine their optimal allocation. Next, using an auction mechanism (e.g., ascending proxy agent system), we obtain the optimal price for each parking facility. In the extension model, the single purchase period of parking permits is extended to multiple purchase periods. Under such settings, we propose an evolutionary method to achieve the optimal price. Finally, through a numerical experiment, we verify the feasibility of the ascending proxy agent system for optimal pricing and the validity of the evolutionary method for solving the extension model. The results reveal the following: the user equilibrium state under the parking permits is consistent with the social optimal state; we obtain the optimal allocation and prices of parking permits using an ascending proxy agent system; the optimal price has strategy-proofness which lets the users report their valuation truthfully; compared with the valuation for parking permits, the variation of the number of parking spaces is more sensitive for the optimal pricing; multiple purchase periods can achieve higher social welfare than that of single purchase period; using the evolutionary method, we obtain the optimal allocation of parking permits and optimal prices in a finite number of iterations; and the evolutionary method achieves high social welfare in a few iterations. © 2018, Editorial Department of China Journal of Highway and Transport. All right reserved.

Keyword:

Auction mechanism; Evolutionary method; Off-street parking facility; Optimal pricing mechanism; Parking permit; Traffic and transportation economy

Author Community:

  • [ 1 ] [Wang, P.-F.]Beijing Key Laboratory of Transportation Engineering, Beijing University of Technology, Beijing, 100124, China
  • [ 2 ] [Wang, P.-F.]School of Urban Construction, Hebei Normal University of Science & Technology, Qinhuangdao, Hebei 066004, China
  • [ 3 ] [Guan, H.-Z.]Beijing Key Laboratory of Transportation Engineering, Beijing University of Technology, Beijing, 100124, China

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Source :

China Journal of Highway and Transport

ISSN: 1001-7372

Year: 2018

Issue: 9

Volume: 31

Page: 182-190

Cited Count:

WoS CC Cited Count: 0

SCOPUS Cited Count:

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 10

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