Monday, August 12, 2013
Parking Meters and Yield Management
San Francisco has experimented by converting about a quarter of its parking meters to "smart meters" in which the price depends on current demand. SFpark, which uses the smart meters and ground sensors to measure parking occupancy and adjust prices accordingly, is providing valuable lessons for San Francisco about reducing the amount of time drivers spend cruising the streets for a parking space.The people running the trial have published the first results here. This experiment also allowed them to calculate price elasticities at different locations and times.This one is taken from a blog entry about the paper.