Optimization of time-varying parking charges and parking supply in networks with multiple user classes and multiple parking facilities

The optimization of parking charges and parking supply over the time of a day is an important problem in the design of transportation networks. This paper presents a bilevel model to determine the optimal time-varying parking charges and parking supply in road networks with multiple user classes and different types of parking facilities. The upper level of the model aims to maximize the network net benefit in response to the parking charges and parking supply, whereas the lower level is a time-dependent network equilibrium problem with elastic demand. A descent-gradient-based solution algorithm is adapted to solve the model. The numerical results show that the implementation of time-varying parking charges and parking supply is useful to effectively cater to the time-varying demand with different parking needs. The model provides a powerful tool for strategically designing parking locations and evaluating various parking policies.