A demand-supply equilibrium model for parking services in Hong Kong

This paper describes a usage-related parking model for the demand-supply equilibrium of parking services that was developed as part of Hong Kong's Second Parking Demand Study (PDS2), which culminated in 2003. The model adopts a network equilibrium approach in which there are multiple vehicle classes and multiple types of parking spaces (facilities). A set of admissible links is formed to connect a set of demand locations to a set of facility locations, in accordance with the admissibility of a vehicle class to a particular type of facility. A parking choice model that takes into account the parking search time, walking distance, and parking charge is developed, in which each vehicle chooses a parking facility to minimize its generalized parking cost at equilibrium. A method of successive averages is used to determine the equilibrium solution of the parking model. The peak parking accumulation at different locations and times can then be deduced from the model. The model has been validated with the Hong Kong situation.link_to_subscribed_fulltex