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          Carnegie Mellon University

          The Piper

          CMU Community News

          Piper Logo
          February 04, 2013

          Faculty Work To Optimize Street Parking Rates

          By Mark Burd

          At 50 cents per hour, street parking near the Tepper School of Business was very tough to find. But, today, at $2 per hour, many spaces, particularly in Schenley Park, are unused.

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          Mark Fichman, an associate professor of organizational behavior and theory, and Stephen Spear, a professor of economics, said they will use economic principles to research the "ideal" rate, which will balance commuter usage with parking revenues.

          "Ideally, slightly more than three quarters of available parking spaces should be utilized during normal business periods," Fichman said.

          The researchers will monitor parking usage during normal business periods for a year and will determine, on a month-to-month basis, whether street parking rates should be raised or lowered to achieve optimal usage.

          Optimal parking rates near Schenley Park are the subject of an ongoing Tepper study. Comments and suggestions for the study can be sent to cmupark@andrew.cmu.edu.

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