LOCATING AND PRICING PARK-AND-RIDE FACILITIES IN A LINEAR MONOCENTRIC CITY WITH DETERMINISTIC MODE CHOICE
operations - traffic, ridership - mode choice, ridership - demand, policy - parking, economics - pricing, economics - profitability, place - urban, mode - rail, mode - park and ride, mode - car
Urban transportation, Urban areas, Travel models (Travel demand), Travel demand, Travel costs, Transportation corridors, Traffic corridors, Social costs, Site selection, Railways, Railroads, Profits, Pricing, Placement (Location), Parking places, Parking facilities, Parking areas, Park and ride, Optimization, Optimisation, Mode choice, Modal choice, Location theory, Location, Locating, Intracity transportation, Highways, Gain, Fringe parking, Externalities, Equilibrium (Economics), Economic analysis, Corridors (Transportation), Choice of transportation, Car parks
Park-and-ride (P&R) facilities have substantial fixed and operating costs, making economic considerations central in the decision making process on how to invest in them. This paper investigates the economics of P&R facilities, particularly in the optimal location and pricing of a P&R facility in a linear city. Residences are uniformly distributed from the center to the exogenous city boundary, and all trips are from home to the center. A congestible highway and a congestion-free rail line can be accessed at all points along the travel corridor. Deterministic mode choice equilibria are characterized for before and after a P&R service is introduced. Profit maximizing and social cost minimizing P&R locations and parking charges are then derived and compared. A numerical example illustrates the possibility of a win-win situation whereby a P&R facility can be profitable, as well as socially beneficial by reducing total travel costs. The location chosen for the P&R depends on the operator's objective function, and on the overall level of travel demand. Directions for further research are discussed.
Wang, JYT, Yang, H, Lindsey, R, (2004). LOCATING AND PRICING PARK-AND-RIDE FACILITIES IN A LINEAR MONOCENTRIC CITY WITH DETERMINISTIC MODE CHOICE. Transportation Research Part B: Methodological, Volume 38, Issue 8, p. 709-731.