Main menu For students For teachers Explore our subjects Student events & courses

Explore

More for students
Sign in

Teaching Economics

Blog

Dynamic pricing in car parks

Geoff Riley

10th June 2008

Share this content:

BBC London today carried news of an excellent example of dynamic pricing in action.

Motorists turning up at the Queensway car park will be priced according to how close the facility is to full capacity. Arriving at a non-peak time could drive the price down to 20p per hour - almost unheard of in London. But at peak times when demand is less price sensitive and the car park is full, the price rises to £2 per hour. The system automatically knows how many spare places there are. More here.

It would be pleasing to see such an innovative pricing strategy expanding to many other towns and cities.

Share this content:

Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

You might also like

Ending Peruvian Poverty

8th October 2015

Global Goals are set to address poverty and underdevelopment

6th October 2015

Dissecting the Commodity Price Meltdown

5th October 2015

Uber faces UK regulatory review

2nd October 2015

How do you deal with someone who thinks the Earth is flat?

23rd September 2015

Don't panic - how to end poverty!

23rd September 2015

Teaching PowerPoints for A Level Economics

23rd September 2015

John McDonnell's Economics

16th September 2015