title   
  

Free parking for all in shopping malls

Hasker, Kevin and İnci, Eren (2013) Free parking for all in shopping malls. (Accepted/In Press)

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Official URL: http://onlinelibrary.wiley.com/journal/10.1111/%28ISSN%291468-2354/

Abstract

We show why a mall provides parking for free and embed the parking costs in the prices of the goods. Essentially, charging a parking fee to risk-averse customers means penalizing them for not finding their desired good. This result holds whether the mall has monopoly power or prices competitively; if there is parking validation; if there is a trade-off between shopping and parking spaces. It is also the attainable social optimum. The equilibrium lot size is too small, yielding a rationale for minimum parking requirements. However, parking fees may be positive and lots may be too large in urban malls.

Item Type:Article
Uncontrolled Keywords:land use; lot size; parking fee; parking requirements; shopping mall
Subjects:H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor > HD0101-1395.5 Land use
ID Code:22311
Deposited By:Eren İnci
Deposited On:06 Dec 2013 15:26
Last Modified:16 Dec 2014 11:59

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