The residential parking rent price elasticity of car ownership in Japan |
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| Institution: | 1. Graduate School for International Development and Cooperation, Hiroshima University, 1-5-1, Kagamiyama, Higashi-hiroshima, Hiroshima 739-8529, Japan;2. Center for Global Environmental Research, National Institute for Environmental Studies, 16-2, Onogawa, Tsukuba, Ibaraki 305-8506, Japan;3. Graduate School of Science and Engineering, Tokyo Institute of Technology, 2-12-1-I4-5, O-okayama, Meguro, Tokyo 152-8550, Japan;1. School of Maritime Economics and Management, Dalian Maritime University, Dalian 116026, China;2. Department of Management and Decision Sciences, School of Business Administration, Northeastern University, Shenyang 110169, China;3. State Key Laboratory of Synthetical Automation for Process Industries, Northeastern University, Shenyang 110819, China;1. Graduate Research Assistant, Department of Civil Engineering, The City College of New York, Steinman Hall T-196, 160 Convent Avenue, New York, NY 10031, USA;2. Assistant Professor, Department of Civil Engineering, The City College of New York, Steinman Hall T-195, 160 Convent Avenue, New York, NY 10031, USA;3. Parsons Corporation, 100 Broadway #18, New York, NY 10005, USA;1. UniSA Business, University of South Australia, Adelaide 5000, Australia;2. Research Centre for Integrated Transport Innovation (rCITI), School of Civil & Environmental Engineering, University of New South Wales, Australia;1. Department of Geographical Sciences, University of Maryland, College Park, MD 20742, USA;2. National Advanced Driving Simulator, University of Iowa, Iowa City, IA 52242, USA |
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| Abstract: | By using household-level micro data captured through the National Survey of Family Income and Expenditure for 2004, this study evaluates the residential parking rent price elasticity of car ownership in Japan. It analyzes the number of cars owned by a household, using various attributes including expenditure for renting a parking space on a monthly basis. The estimation results derived from the IV-ordered probit model show that the absolute value of parking rent price elasticity of car ownership is, at most, 0.48, which is fairly small (i.e., inelastic). The elasticity value varies depending on city size; for megacities, elasticity is always negative for car ownership, whereas for middle-sized or small cities, towns, and villages, elasticity is positive for one-car ownership and negative for the ownership of more than one car. Hence, when the price of parking increases, some people may switch from more than one car to one car and some people in megacities may switch from one to zero cars. Indeed, the net effect of a price increase may be that non-car ownership increases in megacities and one-car ownership increases in other cities. |
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| Keywords: | Residential parking rent price Car ownership Elasticity IV-ordered probit model Micro data Japan |
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