ABSTRACT
Optimal supply depends on the number and type of trips to a destination, how parking facilities are managed, and the severity of problems that result if parking is unavailable, the cost of providing parking facilities, and the cost of implementing parking management strategies. According to economic theory, optimal parking supply is the amount consumers would purchase in an efficient market. Similarly, the optimal supply of employee parking is the amount commuters would choose if they pay directly for parking or are able to cash out their parking subsidy and have various commuting options available, such as ridesharing and public transit services. Management solutions should be used whenever they are more cost effective than adding more parking supply. Less parking is supplied where parking facilities are more expensive to build, where management programs are easy to implement, and where reduced parking supply supports other planning objectives.
