Private owners’ propensity to engage in shared parking schemes under uncertainty: comparison of alternate hybrid expected utility-regret-rejoice choice models

Abstract

ABSTRACT To develop effective strategies for the supply of shared parking and study various theoretical choice models under uncertainty, this paper investigates private parking space owners’ propensity to engage in shared parking schemes using a stated choice experiment that involves an uncertain key attribute. A hybrid expected utility-regret model incorporating rejoice is specified to explore the participation behavior. Equivalent models considering the perception of attribute differences are also estimated. Results show that socio-demographic characteristics, social influence, government’s role, media attention, platform fee, and revenues are all important factors explaining private parking owners’ propensity to engage in shared parking schemes. Besides, the model incorporating all these components, including the emotions of regret and rejoice and the perception of attribute differences, yields the best results. These findings could help promote the policy development toward increasing people’s engagement in shared parking.