Price elasticity of parking demand: A critical assumption in the model is that, all else being equal, increasing the price of parking reduces demand for parking. Price elasticity of parking demand was assumed to be -0.3. That is, a ten percent increase in real (i.e., inflation-adjusted) parking price yields a roughly three percent decrease in parking demand. This number represents a midpoint in values found in the national transportation research literature on parking demand elasticity with respect to price which range from 0.1 to -0.6, with -0.3 being the most frequently cited value.1 This price elasticity assumption is illustrated below. The following three figures show demand curves for each type of commuter to illustrate the effect that price has on demand.