Highlights A parking competition game where vehicles compete for parking spaces. Equilibrium assignments are described as a system of nonlinear equations. Optimum price vectors of parking spaces are characterized as a union of polyhedrons. Valid price vectors are introduced to ensure system optimum. Robust price vectors are designed to achieve the best worst-case outcome.

    Abstract This paper considers a parking competition game where a finite number of vehicles from different origins compete for the same number of parking spaces located at various places in a downtown area to minimize their own parking costs. If one vehicle reaches a desired vacant parking space before another vehicle, it will occupy the space and the other vehicle would have to search elsewhere. We first present a system of nonlinear equations to describe the equilibrium assignment of parking spaces to vehicles, and then discuss optimal pricing schemes that steer such parking competition to a system optimum assignment of parking spaces. These schemes are characterized by a union of polyhedrons. Given that the equilibrium state of parking competition is not unique, we further introduce a valid price vector to ensure that the parking competition outcome will always be system optimum. A sufficient condition is provided for the existence of such a valid price vector. Lastly, we seek for a robust price vector that yields the best worst-case outcome of the parking competition.


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    Title :

    Pricing of parking games with atomic players


    Contributors:
    He, Fang (author) / Yin, Yafeng (author) / Chen, Zhibin (author) / Zhou, Jing (author)


    Publication date :

    2014-12-05


    Size :

    12 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English




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