Reserved Parking Space Allocation with Maximizing Social Welfare

With the development of technology such as the internet, GPS, and mobile payment, parking problems can now be addressed by parking reservations. Taking the public parking lot as the research object, different parking space allocation mechanisms are compared and discussed, such as first come first served (FCFS) and first book first served (FBFS). This paper proposed a model maximizing social welfare. Three indicators, including utilization of the parking spaces, revenue, and acceptance rate, are selected to evaluate the effect of different supply and demand scales on efficiency. Numerical experiments are conducted, and a tabu research algorithm is used. The results show that the parking space utilization rate and profit can be increased by 7.1% and 24.1%, respectively, compared with FCFS and FBFS. The research can provide a theoretical foundation for the improvement of parking space utilization rate in parking reservation mode.