http://www.wired.com/news/technology/wireless/0,70826-0.html?tw=wn_index_1
http://money.cnn.com/2006/06/27/autos/parking_auction/index.htm
BTW, I’m being totally honest when I say I typed this before the previous post was posted. Hopefully, it’s not completely the same in terms of content.
—————————————————–
When it comes to buying or selling stock, a trader acts as a middleman for the transaction. In the near future, it may be possible and common for people to do something similar with parking spaces. A small start-up company in Massachusetts, SpotScout (http://www.spotscout.com) is trying to capitalize on the growing prevalence of web-enabled cell phones by creating a real-time marketplace and network that will allow members of the network to find a parking space or auction off the one they’re about to vacate. “Spotcasters” can even rent out their own driveways for the day and have it listed as an available parking space for others who are searching for one in the area.
Many of the concepts we have been studying in class relate to the ideas behind this start up company. In essence, SpotScout is acting essentially as a trader between two commuters or anyone else who just wants to park somewhere. By exploiting the available technology, this service would create many edges between many different people that would otherwise never have been formed, even if the edges that do form are only temporary. Unlike a trader, however, SpotScout takes only a fixed percentage of each transaction and is not trying to exercise power over those who are buying or selling their parking spots. In a sense, it is weakening the amount of power it has by connecting so many people, because the more people that are connected, the more options each person has.
Second, it addresses the game that commuters play against each other; finding a parking spot as quickly and as close to their destination as possible. Use of this service can be modeled as another strategy that players can choose to deploy. The payoffs could be higher or lower, depending on the value of the parking spot to each person, the prices they have to pay for it, and the value they can receive by selling it to others when they leave (to be technical, the service does not allow people to buy or sell actual public parking places; rather, what’s being bought and sold is the information that one person is leaving a parking spot soon and is willing to let another person claim it for a price).
Auctions are also inherently related, since people can auction off a parking spot they either own or are about to vacate. “Seller” values would not be very high since without the SpotScout service, they would be leaving their driveway empty or leaving the parking spot without receiving any value anyways. Bids for parking spots, on the other hand, could potentially be very high, depending on the person searching for a spot.
What are the benefits of creating such a network marketplace? SpotScout claims that its service is optimal socially and individually. A person can save a lot of time and hassle by finding a parking space in advance without having to circle around the street. If more people know exactly where they are going to park, traffic congestion is reduced which means people get where they want to go faster. Environmentally, less gas is burned so pollution is also reduced. In short, SpotScout can potentially benefit everyone because it helps minimize externalities that result from widespread use of public goods.
[…] Another post on SpotScout http://www.wired.com/news/technology/wireless/0,70826-0.html?tw=wn_index_1 money.cnn.com/2006/06/27/autos/parking_auction/index.htm http://www.spotscout.com BTW, I m being totally honest when I say I typed this before the previous post was posted. Hopefully, it s not completely the same in terms of content. “””””””””””””””””” When it comes to buying or selling stock, a trader acts as a middleman for the transaction. In the near future, it may be possible and common for people to do something similar with parking spaces. A small start-up company in Massachusetts, SpotScout (www.spotscout.com) is trying to capitalize on the growing prevalence of web-enabled cell phones by creating a real-time marketplace and network that will allow members of the network to find a parking space or auction off the one they re about to vacate. Spotcasters can even rent out their own driveways for the day and have it listed as an available parking space for others who are searching for one in the area. Many of the concepts we have been studying in class relate to the ideas behind this start up company. In essence, SpotScout is acting essentially as a trader between two commuters or anyone else who just wants to park somewhere. By exploiting the available technology, this service would create many edges between many different people that would otherwise never have been formed, even if the edges that do form are only temporary. Unlike a trader, however, SpotScout takes only a fixed percentage of each transaction and is not trying to exercise power over those who are buying or selling their parking spots. In a sense, it is weakening the amount of power it has by connecting so many people, because the more people that are connected, the more options each person has. Second, it addresses the game that commuters play against each other; finding a parking spot as quickly and as close to their destination as possible. Use of this service can be modeled as another strategy that players can choose to deploy. The payoffs could be higher or lower, depending on the value of the parking spot to each person, the prices they have to pay for it, and the value they can receive by selling it to others when they leave (to be technical, the service does not allow people to buy or sell actual public parking places; rather, what s being bought and sold is the information that one person is leaving a parking spot soon and is willing to let another person claim it for a price). Auctions are also inherently related, since people can auction off a parking spot they either own or are about to vacate. Seller values would not be very high since without the SpotScout service, they would be leaving their driveway empty or leaving the parking spot without receiving any value anyways. Bids for parking spots, on the other hand, could potentially be very high, depending on the person searching for a spot. What are the benefits of creating such a network marketplace? SpotScout claims that its service is optimal socially and individually. A person can save a lot of time and hassle by finding a parking space in advance without having to circle around the street. If more people know exactly where they are going to park, traffic congestion is reduced which means people get where they want to go faster. Environmentally, less gas is burned so pollution is also reduced. In short, SpotScout can potentially benefit everyone because it helps minimize externalities that result from widespread use of public goods. […]