Modeling and managing the joint equilibrium of destination and parking choices under hybrid supply of curbside and shared parking

Abstract

This paper models the joint equilibrium of destination and parking choices in cities under hybrid supply of curbside parking and shared parking. Given the parking supply (capacities and prices), the joint equilibrium of destination and parking choices is formulated as a variational inequality problem. We then discuss the existence and uniqueness/non-uniqueness of the joint equilibrium. We also analyze the pricing strategies of private and public shared parking operators and how these are related to travelers’ destination and parking choices, where a private operator maximizes its profit (can be either monopoly or oligopoly) and a public operator maximizes social benefit. Numerical results are presented to illustrate the model and analytical results, and also to provide further understanding.