Vaishnavi Mangesh Bhagwat

UM4050

In the realm of mall economics, the dynamics of parking charges reveal a complex interplay between profitability and consumer satisfaction. As mall owners strive to maximize revenue while providing a seamless shopping experience, the imposition of parking fees sparks debates over fairness and sustainability. This intricate ecosystem relies on the symbiotic relationship between retailers, consumers, and mall owners, with cross-subsidization playing a pivotal role in offsetting operational costs. While consumers may question the fairness of parking fees, they must recognize the broader implications of free or heavily subsidized parking.In the end, finding the right balance between making money and keeping shoppers happy is crucial for making malls thrive and last a long time.To understand this dynamic, we designed an economic model where the mall owner acts as a platform for retailers, who constitute the supply side, and consumers as the demand side. The study contributed to delving in the nuances of parking economics and exploring how shoppers play a part in making malls work in today's busy world of shopping.