Analysis of the Influencing Factors of Differentiated Parking Fees Based on Structural Equation Modeling

Abstract

This study proposes differentiated fees based on parking space attributes to regulate the turnover rate and utilization of parking spaces. To understand parkers’ willingness to pay differentiated parking fees, the study employs structural equation modeling to analyze data collected from a questionnaire that identifies the significant factors impacting parking space selection. The questionnaire also captures personal socioeconomic characteristics of drivers. The study uses K-means clustering to classify drivers based on their varying willingness to pay differentiated parking fees. Based on these results, the study establishes an appropriate price fluctuation range for different parking attributes. The study proposes measures to attract different types of drivers to select differentiated parking fees options. This approach can serve as a valuable reference for parking lot managers seeking to optimize their service capacity and revenue levels. In conclusion, this study presents a comprehensive and systematic approach to understanding the willingness of drivers to pay for differentiated parking fees.