How on-street parking demand responds to price changes

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Assignment:

In early 2011, the city of Seattle, Washington changed rates for on-street parking. All results here are based on automatic transaction data from parking pay stations obtained before and after that rate change. The parking rate changes were based on performance-based pricing where rates were increased, decreased, or not changed in neighborhoods with occupancy levels higher than, lower than, or within a pre-determined level. This data was used to calculate price elasticity by time of day for on-street parking demand and incorporates neighborhood characteristics to determine how on-street parking demand responds to price changes. The relationship between pricing and parking turnover, the amount of time parked, and total revenue generated for the city will be discussed.

Reference no: EM133611674

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