Game-Based Demand Feedback Reservation Parking Pricing

Abstract

Reservation parking is a new type of parking that allows users to obtain a parking space for an appropriate time slot by reservation. This paper pioneers a high degree-of-freedom reservation strategy and rules for commercial districts in which users can arbitrarily select parking time slots. The nested logit is applied to build a parking revenue model by analyzing the cost, demand, and price factors sequentially according to the user’s choice behavior. The parking lot price game in the region is dissected and a nonlinear pricing model is proposed for maximizing regional returns. A model validation of a parking lot in an actual commercial area shows that compared to the traditional parking method, the parking lot revenue increased by 69.63% upon the application of this reservation strategy and pricing scheme, while the parking lot traffic increased by 22.4%. This model can provide strong support for reservation parking pricing in commercial areas. In the comparison of scenarios, the scientific validity of this model using dynamic pricing and regional game competition is verified. In the application, a reasonable price scheme can be formulated based on the parking lot traffic, cost, and surrounding parking strategies, which can result in higher parking revenue while providing users with great parking convenience.