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If your thesis is true, then there are also fewer people paying for parking. When the parking lot owners notice this, they will probably lower prices.
by recursive 2y ago
If your thesis is true, then there are also fewer people paying for parking. When the parking lot owners notice this, they will probably lower prices.
- asdff 2y agoThe issue is parking is not the impetus for this demand. It is an anchor on the demand due to its effect on prices but not an impetus to trigger demand. No one says "hey wait, lets go to the $300 concert now, I just saw this parking lot three blocks away slashed their daily rate from $25 down to $2 because they didn't fill it up!" In fact most parking people pay is obligate. In other words they are paying whatever is asked because they have no choice if they want to seek the event or whatever point of interest out, not the other way around. If that were the case the other way around the most interesting places in town would be surrounded by miles of free surface parking lots, when really that mainly represents places like walmart and not places like concert venues or bar districts or museum districts.