A dynamic pricing parking system in urban area with a multi-period reservation demand

I. Chen Lin; Pei Yu He; Chih Hsun Chiang; Jing Yen Hsu; Ru Yi Wang

doi:10.1109/SSIM49526.2021.9555191

A dynamic pricing parking system in urban area with a multi-period reservation demand

I. Chen Lin
, Pei Yu He
, Chih Hsun Chiang
, Jing Yen Hsu
, Ru Yi Wang

Department of Industrial Engineering and Management

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

With the constantly increasing number of cars in the megacities, car parking has become one of serious problems nowadays, especially in congested traffic. Therefore, there have been numerous researches asserting that dynamic pricing mechanism could level parking demand properly. This research investigates the performance of a dynamic pricing mechanism which is manifested by Qiong Tiana, Li Yanga, Chenlan Wanga and Hai-Jun Huanga (2018), in different average prices aiming at maximizing the revenue for parking agencies. The multiple-period reservation model is conducted with linear demand functions. Factors are considered in our examination, including different demand elasticities and average prices. Our research constructs several scenarios to evaluate the performances of a dynamic pricing mechanism and thus compares with those under fixed price. Finally, we discover the promising revenue of the dynamic pricing mechanism under certain assumptions. And, future studies about dynamic pricing mechanism of parking system are discussed.

Original language	English
Title of host publication	2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781728168586
DOIs	https://doi.org/10.1109/SSIM49526.2021.9555191
State	Published - 29 Aug 2021
Event	2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021 - Taichung, Taiwan Duration: 29 Aug 2021 → 31 Aug 2021

Publication series

Name	2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021

Conference

Conference	2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021
Country/Territory	Taiwan
City	Taichung
Period	29/08/21 → 31/08/21

Bibliographical note

Publisher Copyright:
© 2021 IEEE.

Keywords

dynamic pricing
parking reservation
revenue management

Access to Document

10.1109/SSIM49526.2021.9555191

Cite this

Lin, I. C., He, P. Y., Chiang, C. H., Hsu, J. Y., & Wang, R. Y. (2021). A dynamic pricing parking system in urban area with a multi-period reservation demand. In 2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021 (2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/SSIM49526.2021.9555191

Lin, I. Chen ; He, Pei Yu ; Chiang, Chih Hsun et al. / A dynamic pricing parking system in urban area with a multi-period reservation demand. 2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021. Institute of Electrical and Electronics Engineers Inc., 2021. (2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021).

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abstract = "With the constantly increasing number of cars in the megacities, car parking has become one of serious problems nowadays, especially in congested traffic. Therefore, there have been numerous researches asserting that dynamic pricing mechanism could level parking demand properly. This research investigates the performance of a dynamic pricing mechanism which is manifested by Qiong Tiana, Li Yanga, Chenlan Wanga and Hai-Jun Huanga (2018), in different average prices aiming at maximizing the revenue for parking agencies. The multiple-period reservation model is conducted with linear demand functions. Factors are considered in our examination, including different demand elasticities and average prices. Our research constructs several scenarios to evaluate the performances of a dynamic pricing mechanism and thus compares with those under fixed price. Finally, we discover the promising revenue of the dynamic pricing mechanism under certain assumptions. And, future studies about dynamic pricing mechanism of parking system are discussed.",

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Lin, IC, He, PY, Chiang, CH, Hsu, JY & Wang, RY 2021, A dynamic pricing parking system in urban area with a multi-period reservation demand. in 2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021. 2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021, Institute of Electrical and Electronics Engineers Inc., 2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021, Taichung, Taiwan, 29/08/21. https://doi.org/10.1109/SSIM49526.2021.9555191

A dynamic pricing parking system in urban area with a multi-period reservation demand. / Lin, I. Chen; He, Pei Yu; Chiang, Chih Hsun et al.
2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021. Institute of Electrical and Electronics Engineers Inc., 2021. (2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - With the constantly increasing number of cars in the megacities, car parking has become one of serious problems nowadays, especially in congested traffic. Therefore, there have been numerous researches asserting that dynamic pricing mechanism could level parking demand properly. This research investigates the performance of a dynamic pricing mechanism which is manifested by Qiong Tiana, Li Yanga, Chenlan Wanga and Hai-Jun Huanga (2018), in different average prices aiming at maximizing the revenue for parking agencies. The multiple-period reservation model is conducted with linear demand functions. Factors are considered in our examination, including different demand elasticities and average prices. Our research constructs several scenarios to evaluate the performances of a dynamic pricing mechanism and thus compares with those under fixed price. Finally, we discover the promising revenue of the dynamic pricing mechanism under certain assumptions. And, future studies about dynamic pricing mechanism of parking system are discussed.

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Lin IC, He PY, Chiang CH, Hsu JY, Wang RY. A dynamic pricing parking system in urban area with a multi-period reservation demand. In 2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021. Institute of Electrical and Electronics Engineers Inc. 2021. (2021 IEEE International Conference on Social Sciences and Intelligent Management, SSIM 2021). doi: 10.1109/SSIM49526.2021.9555191

A dynamic pricing parking system in urban area with a multi-period reservation demand

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Bibliographical note

Keywords

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