PARKING PRICING IN CENTERAL SHOPPING AREAS OF LOCAL CITIES

Abstract

The parking policy in the core areas of local cities can be regarded as basic means to internalize external (dis) economies stemmed from the consumers' shopping behaviours. In this paper, a market equilibrium model is presented to investigate the market externalities by describing the behaviors consumers, retailers, developers, parking owner and land owners. The normative model is also presented to investigate the relationship between the optimal parking prices and parking capacities.