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The rapid increase in the number of cars has caused many problems, such as &#x201C;cruising for parking&#x201D; and &#x201C;illegal parking&#x201D;. In this study, we conducted several on-street parking surveys in Beijing&#x2019;s business districts. A parking location choice model and decision rules for the cruising process are established. A multi-agent based on-street parking simulation was constructed to explore the effects of time-varying parking prices on parking demand. It is concluded that demand-driven dynamic parking pricing can effectively regulate the distribution of parking demand and ensure the utilization of parking facilities within the desirable range in business districts. A lower desirable range and higher price change for the price adjustment can cause larger fluctuations in parking demand, fewer time intervals within the desirable range, and more price adjustment times. A higher desirable range and higher price change can result in longer cruising and driving times, and lower driving speeds. Considering the effectiveness and operating costs of the pricing schemes, it is recommended that the suitable range for parking occupancy rate is 60&#x0025;&#x2013;80&#x0025; and the price change is 2 Yuan/h. The price adjustment threshold can be set based on the scale of the regional road network. The proposed dynamic parking pricing strategy can balance the distribution of the parking demand and reduce parking and traffic problems. The research conclusions can also provide a reference for the formulation of dynamic parking pricing strategies.

Analysis of the Effect of Demand-Driven Dynamic Parking Pricing on on-Street Parking Demand