The residential parking rent price elasticity of car ownership in Japan

By using household-level micro data captured through the National Survey of Family Income and Expenditure for 2004, this study evaluates the residential parking rent price elasticity of car ownership in Japan. It analyzes the number of cars owned by a household, using various attributes including expenditure for renting a parking space on a monthly basis. The estimation results derived from the IV-ordered probit model show that the absolute value of parking rent price elasticity of car ownership is, at most, 0.48, which is fairly small (i.e., inelastic). The elasticity value varies depending on city size; for megacities, elasticity is always negative for car ownership, whereas for middle-sized or small cities, towns, and villages, elasticity is positive for one-car ownership and negative for the ownership of more than one car. Hence, when the price of parking increases, some people may switch from more than one car to one car and some people in megacities may switch from one to zero cars. Indeed, the net effect of a price increase may be that non-car ownership increases in megacities and one-car ownership increases in other cities.

• Record URL:
  • https://doi.org/10.1016/j.tra.2016.01.005
• Record URL:
  • http://www.sciencedirect.com/science/article/pii/S0965856416000057
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/09658564
• Supplemental Notes:
  • Abstract reprinted with permission of Elsevier.
• Authors:
  • Seya, Hajime
  • Nakamichi, Kumiko
  • Yamagata, Yoshiki
• Publication Date: 2016-3

Language

• English

Media Info

• Media Type: Web
• Features: Figures; References; Tables;
• Pagination: pp 123-134
• Serial:
  • Transportation Research Part A: Policy and Practice
  • Volume: 85
  • Publisher: Elsevier
  • ISSN: 0965-8564
  • Serial URL: http://www.sciencedirect.com/science/journal/09658564

Subject/Index Terms

• TRT Terms: Automobile ownership; Economic elasticity; Households; Parking; Prices; Probits; Rent; Residential areas; Surveys
• Uncontrolled Terms: Household surveys; Microdata; Parking spaces
• Geographic Terms: Japan
• Subject Areas: Economics; Finance; Highways; Operations and Traffic Management; Vehicles and Equipment;

Filing Info

• Accession Number: 01597477
• Record Type: Publication
• Files: TRIS
• Created Date: Apr 28 2016 2:42PM