Parking Lot Allocation and Dynamic Parking Fee Design Based on Mechanism Design

In this paper, we discuss the smart parking system in urban traffic network. In recent years, the decline in vehicle speed when searching for parking lots has been caused traffic jam in urban traffic network. Then, in this paper, we aim at shortening the searching time for parking lots, which is one of the causes of traffic jam, by allocating parking lots being available to drivers. Furthermore, we design the dynamical parking fee and redistribute parking lots to level the multiple parking manager’s profit in traffic area. Finally, we confirm the effectiveness of proposed algorithm in numerical simulation.