Blog Post 4: Illini Bucks
The example that comes to my mind when I think of the Illini bucks concept is parking. Personally, I have had an enormous amount of trouble with parking here at uiuc and I know I'm not the only one. In the scenario that I am thinking of, Illini bucks can be used to allow the buyer to buy preferential parking spaces (closer to their classes/apartment, off the street, covered or in a garage, etc.) It is important to note that the Illini bucks don't actually buy the parking spot, they just allow the buyer the ability to buy the spot.
One change that would have to be made from the scenario that Professor Arvan outlined in the prompt would be that there would have to be other options for using Illini bucks other than for parking spaces, and the system for using the Illini bucks for parking spaces would have to be mediated by bidding. Without these two assumptions, everyone would just use all of their Illini bucks to buy the same level of access and the currency would be useless.
One issue with this system would be integrating the professors. Most professors have reserved parking spaces in a lot near where they teach. I believe they actually get priority on which spots they want before the students are allowed to choose. Unfortunately, I don't think that the professors can be integrated into the Illini bucks system, because they would not value the same exchanges that students would. On the other hand, I have a feeling that professors would be the most likely to greatly value their parking spaces as many need a parking spot to be able to get to work every day. Therefore, even if they were somehow integrated into the system, I would theorize that they would outbid all of the students anyways. I think that in this hypothetical scenario, it would be best to just allow the professors their pick of parking spaces before the students are allowed to start bidding.
I think that this would create an interesting second cost of the parking spot. Currently, all uiuc permits for students cost the same amount, no matter where the lot is located. Therefore, the quality of the parking spot is never taken into account, uiuc is merely looking to make a set amount of money per parking spot. This system of Illini bucks would allow the students to show how much they value the parking spots that they want, leaving less dead weight loss in the market. I'm sure there would be other small complications with students trying to snipe spots towards the end of bidding or other issues that occur in any bidding system, but this could still be an improvement.
One change that would have to be made from the scenario that Professor Arvan outlined in the prompt would be that there would have to be other options for using Illini bucks other than for parking spaces, and the system for using the Illini bucks for parking spaces would have to be mediated by bidding. Without these two assumptions, everyone would just use all of their Illini bucks to buy the same level of access and the currency would be useless.
One issue with this system would be integrating the professors. Most professors have reserved parking spaces in a lot near where they teach. I believe they actually get priority on which spots they want before the students are allowed to choose. Unfortunately, I don't think that the professors can be integrated into the Illini bucks system, because they would not value the same exchanges that students would. On the other hand, I have a feeling that professors would be the most likely to greatly value their parking spaces as many need a parking spot to be able to get to work every day. Therefore, even if they were somehow integrated into the system, I would theorize that they would outbid all of the students anyways. I think that in this hypothetical scenario, it would be best to just allow the professors their pick of parking spaces before the students are allowed to start bidding.
I think that this would create an interesting second cost of the parking spot. Currently, all uiuc permits for students cost the same amount, no matter where the lot is located. Therefore, the quality of the parking spot is never taken into account, uiuc is merely looking to make a set amount of money per parking spot. This system of Illini bucks would allow the students to show how much they value the parking spots that they want, leaving less dead weight loss in the market. I'm sure there would be other small complications with students trying to snipe spots towards the end of bidding or other issues that occur in any bidding system, but this could still be an improvement.
Please get your posts done sooner in the future.
ReplyDeleteDuring nine to five the campus really doesn't want students to park close. This is why the bus service is subsidized. Public transportation has the benefit that it doesn't congest. Parking, in contrast, is quite scarce and there really isn't a desire to building parking structures on currently open spaces.
Faculty and staff, in contrast, have to get to work. For the most part there is a seniority based system for parking. I do pay for access to the lot where I park my car. So it isn't a freebie. Some faculty and staff walk, others bike, and some take public transportation. For those who do drive and have lower priority in the scheme, because they are relatively recent hires, there is remote parking near the State Farm Center and then a shuttle bus. I'm guessing that our new Chancellor bypassed the seniority system and has a spot near to Swanlund, the administration building where the Chancellor has his office.
So parking is much more of a problem than I even knew for faculty and staff. The seniority program is interesting. I would have thought that it would have been organized by importance, like you theorized with the chancellor. This would give the university one more way to value employees without using promotion or other advancements. From all this information though, I still think that keeping the faculty and staff separate would be the right call. I don't see any good ways to integrate them into the Illini bucks system along side students.
DeleteI enjoyed your scenario for Illinibucks because parking is such a pain. I wonder how much of a priority would students put parking over other things like priority registration. Also not everyone has a car so what other options would there be for students who don't have cars. Current parking spaces for the apartment I live in are extremely expensive. But I doubt Illinibucks could be used to alleviate the cost. One last question I would have is if there would be need for more parking spaces to be built to accommodate the high demand that Illinibucks would cause for parking spaces.
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