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Dynamic parking policies

Sounds like an interesting experiment in San Francisco.  Parking charges adjusted to clear the market for parking spots dynamically – a single vacant spot at all times in any location. Hence zero search costs.

HT to PH

2 comments to Dynamic parking policies

  • This will be very interesting, however I wonder about the impact of imperfect consumer information at the time of trip planning.

    For example, if a driver plans their trip before they leave home, are in the car for 45 to get to the location, the dynamic pricing could change. Therefore many drivers could leave home at the same expecting low prices, only to find high parking and congestion when they arrive at the destination. Unwilling to return home after making the journey in to town, they will face the same congestion as prior to dynamic pricing, though be paying higher costs for parking.

    Any assumption based on the use of mobile devices could be questionable, as the majority of trips are planned prior to driving, rather than once in the car.

    Possibly peak pricing in set blocks would be more effective, as it is more predictable for consumers.

    Of course, this all could be wrong! I look forward to seeing how the experiment plays out. A bold move by the City of San Francisco.

  • davidp

    This is very interesting – it will be great to hear how it goes. The set up costs are not small but would perhaps be feasible around the CBD in Melbourne?

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