Dr. David Porter was one of the professors tasked with solving Chapman University's parking gridlock. He told an audience at Reason Foundation's annual Reason Weekend what his solution was: Auction off the spaces.
Porter is a professor of economics and mathematics at Chapman University and the Donna and David Janes Endowed Chair in Experimental Economics.
He says that the parking problem is a lot more complicated than letting price solve supply and demand.
"Well, supply and demand [is] not something that is static here. It's throughout the day. So the prices have to change throughout the day," says Porter.
Topics include: Dutch auctions; busy parking time for students; and complaints from faculty.
Approximately 24:00 minutes-long.
Filmed by Alex Manning and Paul Detrick; Edited by Detrick.