Parking Space Reservation Behavior of Car Travelers from the Perspective of Bounded Rationality: A Case Study of Nanchang City, China

For travelers who inevitably use motor vehicles, in the case of limited parking spaces, reserving parking spaces in destination in advance helps reduce the time and emissions of searching for parking spaces and alleviate road traffic pressure. From the perspective of bounded rationality, this paper comprehensively considers the impact of traveler's personal attributes and behavioral characteristics on parking reservations. The data processing analysis shows that the traveler's age, gender, monthly income, and other characteristics have a certain impact on the parking reservation choice behavior. Reservation price is the key factor affecting the parking reservation policy. Travelers show different value perceptions of the reserved price of parking spaces, and this process has been verified to be roughly the same as the prospect theoretical model. As the reference point for highest reservation price becomes larger, travelers tend to choose to pay less than the ideal reservation price and become more sensitive to losses. It can be found from the model functions and survey data that the ideal reserved parking space price in the survey area is 5 yuan per hour which equals the normal parking fee, and the ideal parking reservation time is less than 2 hours. The research results provide a basis for formulating reasonable parking reservation schemes and parking policies.