Modelling the Effects of Parking Charge and Supply Policy Using System Dynamics Method

Abstract

Reasonable parking charge and supply policy are essential for the regular operation of the traffic in city center. This paper develops an evaluation model for parking policies using system dynamics. A quantitative study is conducted to examine the effects of parking charge and supply policy on traffic speed. The model, which is composed of three interrelated subsystems, first summarizes the travel cost of each travel mode and then calibrates the travel choice model through the travel mode subsystem. Finally, the subsystem that evaluates the state of traffic forecasts future car speed based on bureau of public roads (BPR) function and generates new travel cost until the entire model reaches a steady state. The accuracy of the model is verified in Hangzhou Wulin business district. The related error of predicted speed is only 2.2%. The results indicate that the regular pattern of traffic speed and parking charge can be illustrated using the proposed model based on system dynamics, and the model infers that reducing the parking supply in core area will increase its congestion level and, under certain parking supply conditions, there exists an interval of possible pricing at which the service reaches a level that is fairly stable.