Monday, 15 November 2010

Parking meter risk

In the street where I live, there are parking restrictions, so if you park on weekdays between 9:30am and 3:3opm, you must pay. The days and the times are to deter people from parking and catching a bus into Exeter, since the maximum length of stay is 4 hours. This means that there are three parking meters in the street. About once a week, a couple of men in a van come round to collect the cash from the machines.

Come to another city, Portsmouth, where my work has taken me, and there the parking meters in the streets that I use are labelled "No cash is left in this machine overnight". A similar notice applies in the "pay and display" car parks in the city centre of Exeter.

So we have different policies concerning the collection of cash. I doubt whether anyone constructed a model to determine the policy for our street and the different one for the second category. It could be an interesting model to work with. Balance the cost of collection, the amount expected to be collected, with the cost of a machine, the perceived risk of vandalism and robbery from a machine, etc.

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