Pricing for reservation-based parking system

Abstract

With the population of urban vehicle, parking resources are becoming scarcer and scarcer. Additionally, the lack of parking information, unreasonable parking charging and uncertain parking demand aggravates parking problems. With the advent of the Internet era as well as the improvement of urban smart level, parking reservation has become one of the most effective ways to solve parking problems. By this way a mathematical liner program is proposed to choose the optimum parking price in order to maximize the revenue of a parking system operated by a private owner. A price variance minimization is also added to the model in order to have a tool to decide about new possible tariffs. Furthermore, numerical experiments are given to show the effectiveness of the model.