ABSTRACT
This conclusion presents some closing thoughts on the concepts covered in the preceding chapters of this book. The book examines the relationship between two essential elements of the urban transportation structure: Parking and traffic systems. It provides a simple solution using a spatial econometric model that can be estimated with commonly available administrative data that is adaptable to most cities and suggests that the welfare gains from paid parking adoption are larger than initially accounted for. The book shows that applying performance-based pricing at a street block level ensures high parking availability and close to no cruising everywhere in the city, but it can be inconvenient for drivers due to comprehension difficulties. It also provides suggestive evidence that this lack of proper information translates into relevant market distortions, with drivers paying higher prices and garages strategically affecting parkers’ information levels, exploiting localized market power.
