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This paper analyzes a small, dynamically‐priced curb parking pilot that took place in Pittsburgh, PA from 2013 to 2015. Dynamic pricing of curb parking is a recent innovation – one which is designed to manage parking congestion through price manipulation in order to optimize occupancy and reduce traffic congestion. I find that prices declined durin...
Contexts in source publication
Context 1
... some problems with sample size limit the conclusiveness of these analyses and the results should be treated with some reserve. At the 60% threshold, there was a distinct discontinuity for observations in month t+1, estimated as a 12.17% change in occupancy associated with a $0.25 change in price (Figure 20). Splitting the discontinuity into weeks 1-2 and weeks 3-4 of month t+1 provides some interesting insight into the behavior of drivers. ...
Context 2
... the discontinuity into weeks 1-2 and weeks 3-4 of month t+1 provides some interesting insight into the behavior of drivers. In weeks 1-2, the estimated effect of a $0.25 change in price was 6.19% ( Figure 21), whereas the estimated effect in the month's last two weeks was 18.14% ( Figure 22), implying that there was a lag in driver responsiveness to price changes. The regression lines represent the fitted values of the OLS models shown in Appendix II. ...
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Citations
... Finally, Fichman [20] performs an analysis of the DP parking system implemented in Pittsburgh (USA), finding evidence for a change in drivers' behavior in response to dynamic fees. The author clearly found a time lag between the change in behavior and the adjusted prices, suggesting the important role of communication to achieve an optimal situation. ...
Both Revenue Management (RM) and Dynamic Pricing (DP) are common practices in many industries—e.g., airlines and hotels—but they are still relatively unknown in the parking sector. In Europe, with the exception of for airport parking and in some pilot tests, DP is rarely used by private parking operators or local authorities. The main objective of this conceptual paper is to set an agenda for introducing DP in the private parking sector at a larger scale. After a short review of the existing academic and gray literature, we describe the requirements and instruments that parking companies need to make use of RM. Next, we shortly report on the major existing and/or planned DP parking schemes in Europe. We continue by providing a comprehensive reality check discussing the major challenges the sector faces to apply DP. We conclude by suggesting a road map for private parking operators to successfully implement RM and DP. Finally, we give some indications for future research.
