Coming soon to a city near you: Surge pricing for street parking

Pittsburgh’s Carnegie Mellon University conducted a pilot program into demand pricing on the streets near its campus; the professors running the program claimed they raised revenue and kept occupancy down. Boston, meanwhile, home to the $650,000 parking space, is looking into demand pricing as a way to free up downtown congestion, but needs to install more “smart” meters first. These kinds of pricing models are only possible now that the technology is available to collect and process the information; now that it exists, it is unlikely to go away. Taxis, energy utilities and theme parks are all well on their way, joining hotels and airlines in demand-based pricing.