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HCoFP: chapter 13, choosing to cruise

He gives a little rational actor model of how long you should cruise for curb parking before going for a lot. One possible flaw is that it makes sense as an expectation: "If I expect to have to cruise more than 6 minutes, I should just go to a lot." If one has already spent the recommended time, I'm not sure it makes sense to then give up and go to a lot; after all 2 more minutes might save you the parking fee! More of an attrition or dollar auction model. (He mentions that as a complication later.)

The difference between curb and off-street prices in many places is such that 6 minutes might save you multiple dollars, for an effective hourly wage of $50/hour. So the individual incentive to try is high, even though it makes things worse for everyone else, and is costing you gas and time.

Oh, and cruising makes most sense for solo drivers who have a low value of time.

Boston capped downtown off-street parking at a 1975 level of 35,000 spaces, no more can be built. Average price is $390/month per space -- or $30/day! But metered parking is $1/hour, throughout the city. Huge incentive to cruise and congest.

There's two ways to equalize curb and market price for parking: one is to charge a market price at the meter, the other is to force off-street parking to zero, by requiring a huge supply of it. Most cities have mostly opted for the latter...

Curb parking is best suited to quick trips and high turnover, but it's drivers who plan long stays who have the most financial incentive to crawl for cheap parking.

Cheap parking both increases demand and reduces turnover at spaces; double whammy.

Vickney argued that since curb is more convenient than off-street, it should be priced *higher*, and there's evidence to back that up.

See the comment count unavailable DW comments at http://mindstalk.dreamwidth.org/356189.html#comments

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