01697869

Component

Reservation-based parking system has the merit of eliminating vehicles cruising for parking. While the authors have seen many long-period (e.g., daily) parking reservation services in the market, the short-period (e.g.,hourly) parking reservation remains a huge challenge due to the high uncertainty of customer arrival and departure. To mitigate the service failure caused by random late departures of customers, the authors propose a new flexible reservation mechanism where the reservation is no longer binding to a specific location at a specific time, but with a certain tolerance of predetermined spatiotemporal flexibility instead. With a well-designed pricing instrument for such parking flexibility, customers can coordinate to significantly reduce the reservation failure rate, resulting in an optimal system equilibrium benefiting the entire society. Due to the complex nature of such system, a continuum approximation framework is used to provide tractable analysis for a large scale urban parking system. The authors can successfully provide accurate system management decision support with bounded optimality gap and analytical insights.

This paper was sponsored by TRB committee ABE50 Standing Committee on Transportation Demand Management.

19-03922

English

7p

2019

Transportation Research Board 98th Annual Meeting

Digital/other

Figures; References; Tables

Approximation (Mathematics); Mathematical models; Parking demand; Parking turnover rate; Pricing; Traffic congestion; Travel demand management; Urban areas

Highways; Operations and Traffic Management; Vehicles and Equipment

Transportation Research Board Annual Meeting 2019 Paper #19-03922

TRIS, TRB, ATRI

Dec 7 2018 9:40AM