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The key impact that occupancy rate has on parking strategy becomes clear once we recognize that parking is an optimal stopping problem.

already full, and people end up wasting time and burning
fossil fuel as they cruise for a spot.
Shoup’s solution involves installing digital parking
meters that are capable of adaptive prices that rise with
demand. (This has now been implemented in downtown
San Francisco.) The prices are set with a target occupancy
rate in mind, and Shoup argues that this rate should be
somewhere around 85%—a radical drop from the nearly
100%-packed curbs of most major cities. As he notes,
when occupancy goes from 90% to 95%, it accommodates
only 5% more cars but doubles the length of everyone’s
search.
As you drive along the street, every time you see the occasional
empty spot youhave to make a decision:
should you take this spot, or go a
little closer to your destination and try your luck?
Assume you’re on an infinitely long road, with parking
spots evenly spaced, and your goal is to minimize the
distance you end up walking to your destination. Then the
solution is the Look-Then-Leap Rule. The optimally
stopping driver should pass up all vacant spots occurring
more than a certain distance from the destination and then
take the first space that appears thereafter. And the
distance at which to switch from looking to leaping
depends on the proportion of spots that are likely to be
filled—the occupancy rate. The table on the next page gives
the distances for some representative proportions.

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ZAKARIA AL BAZZAR, 19 yo, university student. love everything about new tech, and I'm sharing it with you :)
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