Thursday, March 15, 2012

Why are parking spaces so hard to find?

Obvious answer: the price is too low.  Today's NYT reports an interesting experiment from (of all places) San Francisco (not usually a bastion of free market thinking).  SanFran has applied technology that allows meter prices to vary depending on demand.  The idea is to have one spot open on each block all the time so that drivers do not clog the streets and generate additional CO2 emissions cruising in search of an empty spot.  Prices fall in areas with lots of spots and rise in those with no spots. 

1 comment:

  1. Now parking is a cash business. And it does not require an educated workforce or a lot of computers. Parking is commercial real estate in its most simplistic form, renting space to a car is now the real deal all over the world.