With the increasing popularity of smart phones, Parking Reservation System (PRS) becomes practical to reduce the travel time in cruising for vacant spaces. The aim of this study is to assess the impact of PRS explicitly. This paper was started with analyzing the processes of cruising for vacant spaces and making parking reservation decisions. The vehicles were divided into two categories: the intelligent vehicles and the regular ones. Only the intelligent vehicles have the ability to make a parking reservation beforehand, while the regular ones have to cruise for vacant spaces. All involved components were treated as different agents, including vehicles, parking lots, network, and management center. Based on this, agent-based simulation was introduced to evaluate the performances of the scenarios with different penetration rates. The simulation results indicate the average travel time increases with the improvement of the penetration rates for the regular vehicles. The assessment method presented in this study would assist in promoting the performances of PRS in urban areas.
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