Economics of Free Parking
By Arnold Kling
Daniel B. Klein writes a review of The High Cost of Free Parking, by Donald Shoup.
Shoup shows that the magnitudes are huge. About 87 percent of all trips in the U.S. are made by personal motor vehicles, and parking is free for 99 percent of these trips (p. 590). But free parking is not a spontaneous outcome. The required parking lot at a restaurant usually occupies at least three times as much land as the restaurant itself.
Read the whole thing. Thanks to Tyler Cowen for the pointer.