Optimal Pricing of Public Parking Garages
Cities are coming around to the idea that on-street parking should be managed and priced based on the demand for the space. San Francisco, for example, created SFpark, a program that adjusts the prices of 7,000 parking meters to achieve a target occupancy rate for on-street spaces, and received much praise among transportation policymakers and professionals. Yet as on-street parking management programs garner attention, cities routinely build off-street parking garages at great cost with scant public scrutiny. Other than recovering the cost of building and maintaining the garages, cities co...