Improving travel efficiency by parking permits distribution and trading

In this paper, we study various parking management schemes in a many-to-one network, where each origin is connected to the destination by a highway with a bottleneck and a parallel transit line. First, we derive a model to compute the morning commuting pattern when the destination has inadequate parking space to accommodate potential private cars. Second, we propose and compare the following three schemes of distributing parking permits to commuters residing in different origins: uniform, Pareto improving, and system optimum distribution of parking permits. Third, free trading of parking permits among commuters in a free market is introduced to better cater for commuters' parking needs. Numerical examples show that parking permits distribution and trading are very efficient in traffic management.