Prediction-based One-shot Dynamic Parking Pricing

Seoyoung Hong, Heejoo Shin, Jeongwhan Choi, Noseong Park

Research output: Chapter in Book/Report/Conference proceedingConference contribution

4 Citations (Scopus)

Abstract

Many U.S. metropolitan cities are notorious for their severe shortage of parking spots. To this end, we present a proactive prediction-driven optimization framework to dynamically adjust parking prices. We use state-of-the-art deep learning technologies such as neural ordinary differential equations (NODEs) to design our future parking occupancy rate prediction model given historical occupancy rates and price information. Owing to the continuous and bijective characteristics of NODEs, in addition, we design a one-shot price optimization method given a pre-trained prediction model, which requires only one iteration to find the optimal solution. In other words, we optimize the price input to the pre-trained prediction model to achieve targeted occupancy rates in the parking blocks. We conduct experiments with the data collected in San Francisco and Seattle for years. Our prediction model shows the best accuracy in comparison with various temporal or spatio-temporal forecasting models. Our one-shot optimization method greatly outperforms other black-box and white-box search methods in terms of the search time and always returns the optimal price solution.

Original languageEnglish
Title of host publicationCIKM 2022 - Proceedings of the 31st ACM International Conference on Information and Knowledge Management
PublisherAssociation for Computing Machinery
Pages748-757
Number of pages10
ISBN (Electronic)9781450392365
DOIs
Publication statusPublished - 2022 Oct 17
Event31st ACM International Conference on Information and Knowledge Management, CIKM 2022 - Atlanta, United States
Duration: 2022 Oct 172022 Oct 21

Publication series

NameInternational Conference on Information and Knowledge Management, Proceedings

Conference

Conference31st ACM International Conference on Information and Knowledge Management, CIKM 2022
Country/TerritoryUnited States
CityAtlanta
Period22/10/1722/10/21

Bibliographical note

Publisher Copyright:
© 2022 ACM.

All Science Journal Classification (ASJC) codes

  • General Business,Management and Accounting
  • General Decision Sciences

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