The proliferation of mobile devices, location-based services and embedded wireless sensors has given rise to applications that seek to improve the efficiency of the transportation system. In particular, new applications are already available that help travelers to find parking in urban settings by conveying the parking slot availability near the desired destinations of travelers on their mobile devices. In this paper we present two notions of parking choice: the optimal and the equilibrium. The

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... equilibrium describes the behavior of individual, selfish agents in a system. We will show how a pricing authority can use the parking availability information to set prices that entice drivers to choose parking in the optimal way, the way that minimizes total driving distance by the vehicles and is then better for the transportation system (by reducing congestion) and for the environment. We will present two pricing schemes that perform this task. Furthermore, through simulations we show the potential congestion improvements that can be obtained through the use of these schemes.