Pricing strategies for shared parking management with double auction approach: Differential price vs. uniform price

Focusing on the price issue in shared parking, two auction-based pricing strategies are designed in a double environment covering parking suppliers and demanders. A novel uniform price strategy (UPS) is proposed to set unique transaction prices for winning participants, it is in contrast with the differential price strategy (DPS), which sets differential transaction prices. The DPS and UPS are compared from the perspective of parking platform's payoff and participants’ utilities theoretically and numerically. It shows that the DPS is superior to the UPS in terms of parking platform's payoff whilst the UPS outperforms the DPS in terms of participants’ utilities.