Parking capacity and pricing in park'n ride trips: A continuous equilibrium network design problem

In this paper we consider the problem of designing parking facilities for park'n ride trips. We present a new continuous equilibrium network design problem to decide the capacity and fare of these parking lots at a tactical level. We assume that the parking facilities have already been located and other topological decisions have already been taken. The modeling approach proposed is mathematical programming with equilibrium constraints. In the outer optimization problem, a central Authority evaluates the performance of the transport network for each network design decision. In the inner problem a multimodal traffic assignment with combined modes, formulated as a variational inequality problem, generates the share demand for modes of transportation, and for parking facilities as a function of the design variables of the parking lots. The objective is to make optimal parking investment and pricing decisions in order to minimize the total travel cost in a subnetwork of the multimodal transportation system. We present a new development in model formulation based on the use of generalized parking link cost as a design variable. The bilevel model is solved by a simulated annealing algorithm applied to the continuous and non-negative design decision variables. Numerical tests are reported in order to illustrate the use of the model, and the ability of the approach to solve applications of moderate size.