March 13, 2026IET Intelligent Transport Systems0 citationsOpen Access
A Computationally Efficient Incentive‐Compatible Auction Mechanism for Parking Allocation and Payment With Trip‐Chain
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Key Points
- The aim is to enhance urban parking management by developing a real-time auction mechanism that allocates parking slots effectively.
- Developed a parking allocation model integrating trip-chain dynamics.
- Implemented an incentive-compatible one-way online auction algorithm.
- Compared performance against conventional and state-of-the-art methods.
- Improved social welfare and user satisfaction in parking allocation.
- Increased parking slot utilisation rates.
- Enhanced computational efficiency compared to traditional systems.
Abstract
ABSTRACT Urban parking management faces growing challenges due to multi‐destination trips and real‐time demands. The computationally efficient parking allocation and payment with trip‐chain (CEPAPT) integrates trip‐chain modeling with an incentive‐compatible one‐way online auction algorithm to dynamically allocate parking slots across multiple destinations and time windows. CEPAPT effectively addresses resource fragmentation and counters strategic user behaviour prevalent in traditional parking systems. Comparative evaluations against a range of baseline methods, encompassing both conventional and state‐of‐the‐art approaches, demonstrate that CEPAPT significantly improves social welfare, user satisfaction, parking slot utilisation, and computational efficiency. These findings establish CEPAPT as a promising real‐time solution for intelligent urban parking management.
Cite This Study
Wang et al. (2026) studied this question.