Using queuing models to set the right parking price
by Baruch Keren; Yossi Hadad
International Journal of Process Management and Benchmarking (IJPMB), Vol. 11, No. 2, 2021

Abstract: This paper applies queuing models (M/G/N/N) to determine the right price for parking, given that the arrival rate and the staying time depend on the parking price. The models explore the payment per hour and the entrance fee models, with one or several customer types, and where each customer type faces different prices (price discrimination). The models are also applicable for cases where the objective function is to set the park occupancy rate at a desired level. The analysis of the numerical examples demonstrates the applicability of the models and provides some interesting insights about the setting of the correct parking price under the appropriate pricing scheme. The conclusion is that one of the most important tools for process management and benchmarking of a car park is the parking pricing.

Online publication date: Mon, 22-Mar-2021

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Process Management and Benchmarking (IJPMB):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com