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Economic Regulation of Urban and Regional Airports
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Item-typ:Veröffentlichung, European Airport Reform: Slots and the Implicit Contract Between Airlines and AirportsEurope faces some of the most difficult airport environments in the world. Many airports are very busy, are difficult to expand, and several have high charges. In spite of this, in some ways, such as the allocation of scarce capacity without major delays, they perform quite well. This paper examines the interests of the main stakeholders, such airlines, passengers, airports, and governments in these reforms, and the ways key institutions impact on them. A key institution is runway slots—these resolve the delay problem quite effectively. However, they do create large rents which can be used to enable poor efficiency, and enable the airlines and airports to create implicit contracts to underinvest.Wissenschaftlicher Artikel70 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Conclusion(Springer International Publishing, 2023); ; ; Recent developments in aviation markets, policy, and the literature concerning regulation and benchmarking necessitate a new overview about the current debates concerning benchmarking and regulation. This book offers this overview, focusing on theoretical aspects (Part I), benchmarking (Part II), and case studies (Part III).Wissenschaftlicher Artikel62 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Introduction(Springer International Publishing, 2023); ; ; This book discusses the current state of the art in the literature on, and the practice of economic regulation of, airports. This topic has received ample attention in the literature, but recent developments in aviation markets, policy and the literature concerning regulation and benchmarking necessitate a new overview.Wissenschaftlicher Artikel57 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Changing Governance and Regulation of Airports: A Comparison of Austria, Denmark, Italy, Hungary, Portugal, and SpainAll airports serve a region and some also serve a nation. This chapter considers regional aspects of the evolution of airport governance and regulation over recent decades. This chapter both widens the scope of academic scrutiny to many countries previously neglected in the academic literature, but also considers how these changes may have been applied and had different impacts at the regional rather than at the national level. In changing the focus in these ways, we retain the economist’s concern for the impact of the changes on the incentives for cost and allocative efficiency. The chapter focuses on the major airports in core regions as most of these airports still have persistent market power and are regulated. Small airports in peripheral regions face different problems such as covering fixed costs. Regulation is here less of a problem. The paper shows that privatization has set out mixed incentives for efficiency. Even though competition has increased for some airports, the major regional airports retain substantial market power, in part because market structure has rarely changed with privatization. This puts a heavy importance on regulatory incentives.Wissenschaftlicher Artikel54 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, European Hub Airport Competition: An Assessment of Market Concentration in the Local Catchment and in the Transfer MarketThe airport market is considered to exhibit significant market power and has therefore been subject to different types of economic regulation. Multiple studies have been investigating the degree of market power in order to implement regulation accordingly. Different approaches are pursued in regard to market power assessment, including the switching potential of passengers and airlines, or the implications of airports as two-sided markets, enabling a comprehensive insight whether an airport has a dominant position on a particular market segment. The analysis in this chapter contributes to the discussion of hub airport competition by assessing the destination overlap both in the origin and destination and in the transfer market. For this purpose, the market concentration of European hub airports is analysed using the Herfindahl Hirschman Index, for each destination offered at the selected hub airports and the respective development over time. This analysis shows that the majority of European hub airports has a dominant position in both the origin-destination and transfer market. However, it can be observed that the level of market concentration has been decreasing over time, thus implying a higher overlap between destinations offered at hub airports and their competitive counterparts, and potentially more choice for passengers.Wissenschaftlicher Artikel76 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, How Strong Is Airport Competition: Is There a Case for Regulation?(Springer International Publishing, 2023); ; ; Given the natural monopoly properties and higher levels of connectivity of large airports, workable airport competition may not be possible, requiring regulation. This simple rule becomes more complicated, when looking also at the product range of airports, difference in consumer preferences and their price elasticity or competition from other transportation modes like high-speed rail on short-haul routes, thereby also affecting the catchment area. Control of access to aviation-related services, like ground handling, can also matter. Private versus public ownership of airports complicates the picture, as do airport capacity constraint. Transaction costs and opportunistic behaviour can also lead to regulation. After covering the literature concerning airport regulation, the chapter goes on to look at a number of actual cases involving market power and its regulation. It also looks at airports charging behaviour and price discrimination, depending on the level of congestion at an airport. A number of studies of airport competition and its implications for regulation are summarized, especially for the UK, the Netherlands [Schiphol] and Australia. The studies commissioned by the ACI, which suggest that airports should be just subject to competition law and regulation should be the exception are also discussed.Wissenschaftlicher Artikel61