Parking demand elasticity with income systematic variations in Monteria, Colombia

Abstract

This article analyzes on-street and private parking lots demand elasticity

in the central business district of Monteria, Colombia, when fee and

income variations are considered.

Estimated choice models were based on a stated preference survey.

Elasticities were analyzed using a multinomial logit model, which

explanatory variables were travel time, access time, fee and income.

It was found that demand and income elasticities were -0,10 and -0,32

for on-street and private parking lot, respectively. Those elasticities

experienced a 33,5 % change when users’ income variations are considered.

This shows that a restrictive parking management policy would

affect lower income groups.