Parking demand elasticity with income systematic variations in Monteria, Colombia

Abstract

This article analyzes on-street and private parking lots demand elasticityin the central business district of Monteria, Colombia, when fee andincome variations are considered.Estimated choice models were based on a stated preference survey.Elasticities were analyzed using a multinomial logit model, whichexplanatory variables were travel time, access time, fee and income.It was found that demand and income elasticities were -0,10 and -0,32for on-street and private parking lot, respectively. Those elasticitiesexperienced a 33,5 % change when users’ income variations are considered.This shows that a restrictive parking management policy wouldaffect lower income groups.