Dynamic pricing and reservation for intelligent urban parking management

Despite rapid advances of information technologies for intelligent parking systems, it remains a challenge to optimally manage limited parking resources in busy urban neighborhoods. In this paper, the authors use dynamic location-dependent parking pricing and reservation to improve system-wide performance of an intelligent parking system. With this system, the parking agency is able to decide the spatial and temporal distribution of parking prices to achieve a variety of objectives, while drivers with different origins and destinations compete for limited parking spaces via online reservation. The authors develop a multi-period non-cooperative bi-level model to capture the complex interactions among the parking agency and multiple drivers, as well as a non-myopic approximate dynamic programming (ADP) approach to solve the model. It is shown with numerical examples that the ADP-based pricing policy consistently outperforms alternative policies in achieving greater performance of the parking system, and shows reliability in handling the spatial and temporal variations in parking demand.

• Record URL:
  https://doi.org/10.1016/j.trc.2017.01.016
• Record URL:
  http://www.sciencedirect.com/science/article/pii/S0968090X17300232
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/0968090X
• Supplemental Notes:
  • Abstract reprinted with permission of Elsevier.
• Authors:
  • Lei, Chao
  • Ouyang, Yanfeng
• Publication Date: 2017-4

Language

• English

Media Info

• Media Type: Web
• Features: Appendices; Figures; References; Tables;
• Pagination: pp 226-244
• Serial:
  • Transportation Research Part C: Emerging Technologies
  • Volume: 77
  • Publisher: Elsevier
  • ISSN: 0968-090X
  • Serial URL: http://www.sciencedirect.com/science/journal/0968090X

Subject/Index Terms

• TRT Terms: Dynamic programming; Equilibrium (Systems); Intelligent control systems; Parking; Pricing; Urban areas
• Uncontrolled Terms: Dynamic pricing; Intelligent parking systems; Parking management
• Subject Areas: Data and Information Technology; Finance; Highways; Operations and Traffic Management;

Filing Info

• Accession Number: 01633961
• Record Type: Publication
• Files: TRIS
• Created Date: May 1 2017 9:37AM