Dynamic vehicle parking pricing. A review

• Authors: BAYIH Semeneh Hunachew , TILAHUN Surafel Luleseged
• Languages of publication: EN

Abstracts

EN

Dynamic parking pricing refers to the adjustment of the price of parking to achieve the required occupancy rates. It plays a significant role in parking management systems to minimize traffic congestion and cruising time, as well as to maximize revenue. The optimization of parking pricing and supply through a time-varying pricing strategy is a crucial issue. This paper reviews academic work on approaches to parking pricing, giving emphasis to time-varying pricing strategies. Approaches based on game theory, dynamic and stochastic control, multiobjective and multilevel programming, queuing theory, artificial intelligence, statistics, among others, are reviewed. We categorize these techniques to examine various issues of dynamic parking pricing. The main contributions and methods used are summarized. Furthermore, a brief discussion of the strengths, limitations, and possible future work is given.

Keywords

EN

parking pricing; dynamic pricing; parking management; optimization

• Publisher: Politechnika Wrocławska. Oficyna Wydawnicza Politechniki Wrocławskiej
• Journal: Operations Research and Decisions
• Year: 2024
• Volume: 34
• Issue: 1
• Pages: 35-59

Contributors

author

BAYIH Semeneh Hunachew

• Department of Mathematics, Arba Minch University, Arba Minch, Ethiopia

author

TILAHUN Surafel Luleseged

• Department of Mathematics and HPC, and Big Data Analytics CoE, Addis Ababa Science and Technology University, Ethiopia
• Department of Mathematics, Debark University, Ethiopia

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Identifiers

DOI

10.37190/ord240103