Unlock the Sharing Economy: The Case of the Parking Sector for Recurrent Commuting Trips

Wei Liu, Fangni Zhang, Xiaolei Wang, Chaoyi Shao, Hai Yang

Research output: Journal article publicationJournal articleAcademic researchpeer-review

2 Citations (Scopus)

Abstract

This study examines the pricing strategy of a parking sharing platform that rents the daytime-usage rights of private parking spaces from parking owners and sells them to parking users. In an urban area with both shared parking and curbside parking, a choice equilibrium model is proposed to predict the number of shared parking users under any given pricing strategy of the platform. We analytically analyze how the pricing strategy of the platform (price charged on users and rent paid to parking owners or sharers) would affect the parking choice equilibrium and several system efficiency metrics. It is shown that the platform is profitable when some parking owners have a relatively small inconvenience cost from sharing their spaces, but its profit is always negative at minimum social cost. Numerical studies are conducted to illustrate the analytical results and provide further understanding.
Original languageEnglish
Pages (from-to)338-357
Number of pages20
JournalTransportation Science
Volume56
Issue number2
DOIs
Publication statusPublished - 14 Jan 2022

Keywords

  • parking choice equilibrium
  • revenue maximization
  • shared parking
  • social cost minimization
  • two-sided market

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Transportation

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