Parking Management Efficiency Analysis through Various Charge Schemes for Day-Long Commuting considering Elastic Travel Demand

In this paper, we investigate the travel pattern of the day-long commuting in a bisection bottleneck network and the efficiency of pricing schemes with elastic travel demand. We extend the Vickrey model to morning and evening commutes and allow commuters to arrive at workplace late and depart from workplace early. The parking searching time is considered in the morning commute. Next, we derive the independent morning and evening commuting travel patterns without road toll and parking fee. Then, we propose three pricing regimes: duration dependent parking fees; optimal time-varying road tolls; optimal time-varying road tolls with duration dependent parking fees. We compare the efficiency of the four schemes with elastic demand. Theoretical analysis and the numerical examples show that optimal time-varying road toll is the most efficient pricing scheme. Charging a duration dependent fee neither improves nor deteriorates the scheme of time-varying road toll, if the toll rates are appropriately set. The regime of duration dependent parking fee only is less efficient than the regime of independent morning and evening commuting travel patterns without road toll and parking fee. In the regime of duration dependent parking fee, the social surplus decreases with the increase of duration dependent parking fee rate.