Airports and airlines economics and policy: An interpretive review of recent research

Economics of Transportation - Tập 1 - Trang 15-34 - 2012
Anming Zhang1,2, Achim I. Czerny3
1Sauder School of Business, University of British Columbia, Canada
2China Academy for Financial Research, China
3WHU—Otto Beisheim School of Management, Germany

Tài liệu tham khảo

Adams, 1976, Commodity bundling and the burden of monopoly, Quarterly Journal of Economics, 90, 475, 10.2307/1886045 ACI, 2008. ACI Airport Economics Survey 2008. Airport Council International. Adler, N., Hanany, E., 2010. Trading capacity and capacity trade-offs. Working Paper at the Center for Transportation Studies. Sauder School of Business, University of British Columbia. Armantier, 2006, Evidence on pricing from the Continental Airlines and Northwest Airlines code-share agreement, vol. 1, 91 Armantier, 2008, Domestic airline alliances and consumer welfare, RAND Journal of Economics, 39, 875, 10.1111/j.1756-2171.2008.00042.x Armstrong, 2006, Recent developments in the economics of price discrimination, vol. 2, 97 Arnott, 1990, Economics of a bottleneck, Journal of Urban Economics, 27, 111, 10.1016/0094-1190(90)90028-L Arnott, 1993, A structural model of peak-period congestion: a traffic bottleneck with elastic demand, American Economic Review, 83, 161 Arnott, 1998, Self-financing of congestible facilities in a growing economy, 161 ATRS, 2012. The ATRS (Air Transport Research Society) Airport Performance Benchmarking Report: Global Standards for Airport Excellence, 3-Volume Report. Published by the Centre for Transportation Studies, Sauder School of Business, University of British Columbia, Vancouver, BC. Bailey, 1985 Ball, M., Barnhart, C., Dresner, M., Neels, K., Odoni, A., Perterson, E., Sherry, L., Trani, A., Zou, B., 2010. Total Delay Impact Study: A Comprehensive Assessment of the Costs and Impacts of Flight Delay in the United States, NEXTOR. Available from: 〈http://www.isr.umd.edu/NEXTOR/rep2010.html〉. Bamberger, 2004, An empirical investigation of the competitive effects of domestic airline alliances, Journal of Law and Economics, 47, 195, 10.1086/386274 Baron, 1982, Regulating a monopolist with unknown costs, Econometrica, 50, 911, 10.2307/1912769 Basso, 2008, Airport deregulation: effects on pricing and capacity, International Journal of Industrial Organization, 26, 1015, 10.1016/j.ijindorg.2007.09.002 Basso, 2007, An interpretative survey of analytical models of airport pricing, vol. 2, 89 Basso, 2008, Sequential peak-load pricing: the case of airports and airlines, Canadian Journal of Economics, 41, 1087, 10.1111/j.1540-5982.2008.00497.x Basso, 2010, Pricing vs. slot policies when airport profits matter, Transportation Research Part B, 44, 381, 10.1016/j.trb.2009.09.005 Beesley, 1999, Airport regulation Bel, 2010, Factors explaining charges in European airports: competition, market size, private ownership and regulation, Journal of Regulatory Economics, 37, 142, 10.1007/s11149-009-9110-7 Bilotkach, 2005, Price competition between international airline alliances, Journal of Transport Economics and Policy, 39, 167 Bilotkach, 2007, Airline partnerships and schedule coordination, Journal of Transport Economics and Policy, 41, 413 Bilotkach, 2012, Regulation, privatization, and aeronautical charges: panel data evidence from European airports, Journal of Regulatory Economics, 42, 73, 10.1007/s11149-011-9172-1 Bilotkach, V., Hüschelrath, K. Airline alliances, antitrust immunity, and market foreclosure. Review of Economics and Statistics, 10.1162/REST_a_00308, in press. Bilotkach, V., Polk, A., 2011. The Assessment of Market Power of Airports. Working Paper. Newcastle Business School, Northumbria University. Borenstein, 1985, Price discrimination in free-entry markets, RAND Journal of Economics, 16, 380, 10.2307/2555565 Borenstein, 1989, Hubs and high fares: dominance and market power in the U.S. airline industry, RAND Journal of Economics, 20, 344, 10.2307/2555575 Borenstein, 1991, The dominant-firm advantage in multiproduct industries: evidence from the U.S. airlines, Quarterly Journal of Economics, 106, 1237, 10.2307/2937963 Borenstein, 1992, The evolution of U.S. airline competition, Journal of Economic Perspectives, 6, 45, 10.1257/jep.6.2.45 Borenstein, S., Rose, N. How airline markets work … or do they? Regulatory reform in the airline industry. In: Rose, N. (Ed.), Economic Regulation and its Reform: What Have We Learned? University of Chicago Press, forthcoming. Brander, 1990, Market conduct in the airline industry: an empirical investigation, RAND Journal of Economics, 21, 567, 10.2307/2555469 Brueckner, 2001, The economics of international codesharing: an analysis of airline alliances, International Journal of Industrial Organization, 19, 1475, 10.1016/S0167-7187(00)00068-0 Brueckner, 2002, Airport congestion when carriers have market power, American Economic Review, 92, 1357, 10.1257/000282802762024548 Brueckner, 2004, Network structure and airline scheduling, Journal of Industrial Economics, 52, 291, 10.1111/j.0022-1821.2004.00227.x Brueckner, 2009, Price vs. quantity-based approaches to airport congestion management, Journal of Public Economics, 93, 681, 10.1016/j.jpubeco.2009.02.009 Brueckner, 1992, Fare determination in airline hub and spoke networks, RAND Journal of Economics, 23, 309, 10.2307/2555865 Brueckner, 2007, Airline schedule competition, Review of Industrial Organization, 30, 161, 10.1007/s11151-007-9140-1 Brueckner, J.K., Lee, D., Singer, E. Airline competition and domestic U.S. airfares: A comprehensive reappraisal. Economics of Transportation, forthcoming. Brueckner, 2007, Institutions, regulation, and the evolution of European air transport, vol. 2, 1 Brueckner, J.K., Picard, P.M., 2011. Airline Alliances, Carve-Outs and Collusion. Working Paper, University of California, Irvine. Brueckner, 2010, Carve-outs under airline antitrust immunity, International Journal of Industrial Organization, 28, 657, 10.1016/j.ijindorg.2010.03.006 Brueckner, 1994, Economies of traffic density in the deregulated airline industry, Journal of Law and Economics, 37, 379, 10.1086/467318 Brueckner, 2008, Atomistic congestion tolls at concentrated airports? Seeking a unified view in the internalization debate, Journal of Urban Economics, 64, 288, 10.1016/j.jue.2008.02.002 Brueckner, 2010, Manipulable congestion tolls, Journal of Urban Economics, 67, 315, 10.1016/j.jue.2009.10.003 Brueckner, 2000, The price effect of international airline alliances, Journal of Law and Economics, 43, 503, 10.1086/467464 Brueckner, 2001, A model of scheduling in airline networks: how a hub-and-spoke system affects flight frequency, fares and welfare, Journal of Transport Economics and Policy, 35, 195 Button, 1998 Carlin, 1970, Marginal cost pricing of airport runway capacity, American Economic Review, 60, 310 Caves, 1962 Caves, 1984, Economies of density versus economies of scale: why trunk and local service airline costs differ, RAND Journal of Economics, 15, 471, 10.2307/2555519 Ciliberto, 2010, Limited access to airport facilities and market power in the airline industry, Journal of Law and Economics, 53, 467, 10.1086/605725 Clougherty, 2000, US domestic airline alliances: does the national welfare impact turn on strategic international gains?, Contemporary Economic Policy, 18, 304, 10.1111/j.1465-7287.2000.tb00027.x Czerny, 2006, Price-cap regulation of airports: single-till versus dual-till, Journal of Regulatory Economics, 30, 85, 10.1007/s11149-006-0010-9 Czerny, 2009, Code-sharing, price discrimination and welfare losses, Journal of Transport Economics and Policy, 43, 193 Czerny, 2010, Airport congestion management under uncertainty, Transportation Research Part B, 45, 371, 10.1016/j.trb.2009.05.005 Czerny, A.I., 2012. Public Versus Private Airport Behavior When Concession Revenues Exist. Economics of Transportation, forthcoming. Czerny, 2007 Czerny, A.I., Höffler, F., Mun, S., 2012. Port Competition and Welfare Effect of Privatization. Paper Presented at the Kuhmo-Nectar Conference, June 2012. Berlin, Germany. Czerny, A.I., Jost, P.-J., Mantin, B.. 2012. Route Choices and the Social Evaluation of Airline Mergers and Alliances. Working Paper, WHU – Otto Beisheim School of Management. Czerny, 2011, Airport congestion pricing and passenger types, Transportation Research Part B, 45, 595, 10.1016/j.trb.2010.10.003 Czerny, A.I., Zhang, A., 2012. Airport Congestion Pricing When Airlines Price Discriminate. Working Paper, WHU – Otto Beisheim School of Management. D'Alfonso, T., Jiang, C., Wan, Y. Airport pricing, concession revenues and passenger types. Journal of Transport Economics and Policy, forthcoming. Dana, 1999, Using yield management to shift demand when the peak time is unkown, RAND Journal of Economics, 30, 456, 10.2307/2556058 Dana, 1999, Equilibrium price dispersion under demand uncertainty: the roles of costly capacity and market structure, RAND Journal of Economics, 30, 632, 10.2307/2556068 Daniel, 1995, Congestion pricing and capacity of large hub airports: a bottleneck model with stochastic queues, Econometrica, 63, 327, 10.2307/2951629 Daniel, J.I., 2009. The Deterministic Bottleneck Model With Non-Atomistic Traffic. Working Papers 09-08. University of Delaware, Department of Economics. Daniel, 2011, Congestion pricing of Canadian airports, Canadian Journal of Economics, 44, 290, 10.1111/j.1540-5982.2010.01633.x Daniel, 2008, (When) Do hub airlines internalize their self-imposed congestion delays?, Journal of Urban Economics, 63, 583, 10.1016/j.jue.2007.04.001 Daniel, 2009, Pricing the major US hub airports, Journal of Urban Economics, 66, 33, 10.1016/j.jue.2009.03.001 De Neufville, 2003 Doganis, 1992 Douglas, 1974, Quality competition, industry equilibrium, and efficiency in the price-constrained airline market, American Economic Review, 64, 657 EC and USDOT, 2010. Transatlantic Airline Alliances: Competitive Issues and Regulatory Approaches. European Commission and United States Department of Transportation. Available from: 〈http://ec.europa.eu/competition/sectors/transport/reports/joint_alliance_report.pdf〉. Evans, 1993, Structure, conduct and performance in the deregulated airline industry, Southern Economic Journal, 59, 450, 10.2307/1060284 Flores-Fillol, 2010, Congested hubs, Transportation Research Part B, 44, 358, 10.1016/j.trb.2009.10.004 Flores-Fillol, 2007, Strategic formation of airline alliances, Journal of Transport Economics and Policy, 41, 427 Forsyth, 2004, Locational and monopoly rents at airports: creating them and shifting them, Journal of Air Transport Management, 10, 51, 10.1016/j.jairtraman.2003.10.003 Forsyth, 2006, Martin Kunz Memorial Lecture: tourism benefits and aviation policy, Journal of Air Transport Management, 12, 3, 10.1016/j.jairtraman.2005.09.001 Forsyth, 2008, Airport policy in Australia and New Zealand: Privatization, light-handed regulation and performance Forsyth, 2004 Forsyth, 2008, Setting the slot limits at congested airports, 63 Fu, 2010, Effects of airport concession revenue sharing on competition and social welfare, Journal of Transport Economics and Policy, 44, 119 Gayle, 2007, Airline code-share alliances and their competitive effects, Journal of Law and Economics, 50, 781, 10.1086/519818 Gayle, 2008, An empirical analysis of the competitive effects of the Delta/Continental/Northwest code-share alliance, Journal of Law and Economics, 51, 743, 10.1086/595865 Gillen, 1994, The market and aviation infrastructure: pricing, productivity and privatization, Transportation Research Circular, 425, 82 Gillen, 2011, Airport governance and regulation: the evolution over three decades of aviation system reform, 779 Gillen, 2009, Price volatility in airline markets, Transportation Research Part E, 45, 693, 10.1016/j.tre.2009.04.014 Gillen, 1989, Airport pricing principles: an application to Canadian airports, Journal of Transportation Research Forum, 29, 28 Geuens, 2004, Developing a typology of airport shoppers, Tourism Management, 25, 615, 10.1016/j.tourman.2003.07.003 Haskel, 2010, Market structure, countervailing power and price discrimination: the case of airports, CEIS Tor Vergata Research Paper Series, 8 Hau, T.D., 1992. Economic Fundamentals of Road Pricing, a Diagrammatic Analysis. Policy Research Working Papers Transport. Infrastructure and Urban Development Department, The World Bank. December 1992, WPS 1070. Hazledine, 2006, Price discrimination in Cournot-Nash oligopoly, Economics Letters, 93, 413, 10.1016/j.econlet.2006.06.006 Heimer, 2004, Code-sharing agreements and interconnections in markets for international flights, Review of International Economics, 12, 337, 10.1111/j.1467-9396.2004.00453.x ICAO, 1992. Statements by Council on Charges for Airports and En Route Navigation. ICAO (International Civil Aviation Organization) Doc. 9082/4, updated in 2001. Montreal, Canada. Ito, 2007, Domestic codesharing, alliances and airfares in the US airline industry, Journal of Law and Economics, 11, 89 Jones, 1993, The economics of airport slots, Fiscal Studies, 14, 37, 10.1111/j.1475-5890.1993.tb00437.x Karlsson, 2008, Cost of aviation infrastructure in the United States, Transportation Research Record: Journal of the Transportation Research Board, 2052, 28, 10.3141/2052-04 Keeler, T.E., 1978. Domestic trunk airline regulation: an economic evaluation. In: Study on Federal Regulation, S. Doc. 96-14, 96 Cong. 1 sess. Washington, DC, U.S. Government Printing Office. Kim, 1993, Mergers and market power: evidence from the airline industry, American Economic Review, 83, 549 Levine, 1969, Landing fees and the airport congestion problem, Journal of Law and Economics, 12, 79, 10.1086/466660 Levine, 1987, Airline competition in deregulated markets: theory, firm strategies and public policy, Yale Journal on Regulation, 4, 283 Liebert, V., Niemeier, H.-M., 2010. Benchmarking of Airports—A Critical Assessment. Paper Presented at the 12th World Conference on Transport Research (WCTR), July 2010. Lisbon, Portugal. Mantin, 2012, Airport complementarity: private vs. government ownership and welfare gravitation, Transportation Research Part B, 46, 381, 10.1016/j.trb.2011.10.001 Marques, 2008, Airport regulation in Europe: is there need for a European observatory?, Transport Policy, 15, 163, 10.1016/j.tranpol.2008.01.001 Matsumura, T., Matsushima, N. Airport privatization and international competition. Japanese Economic Review, forthcoming. Mayer, 2003, Network effects, congestion externalities, and air traffic delays: or why all delays are not evil, American Economic Review, 93, 1194, 10.1257/000282803769206269 Mohring, 1962 Morrison, 1983, Estimation of long-run prices and investment levels for airport runways, Research in Transportation Economics, 1, 103 Morrison, 1987, The equity and efficiency of runway pricing, Journal of Public Economics, 34, 45, 10.1016/0047-2727(87)90044-2 Morrison, 1986 Morrison, 1989, Enhancing the performance of the deregulated air transportation system, Brookings Papers on Economic Activity: Microeconomics, 61, 10.2307/2534720 Morrison, 1995 Morrison, 2000, The remaining role for government policy in the deregulated airline industry Morrison, 2007, Another look at airport congestion pricing, American Economic Review, 97, 1970, 10.1257/aer.97.5.1970 Mun, 2012, The organization of multiple airports in a metropolitan area, Journal of Transport Economics and Policy, 46, 221 Niskanen, 1987, Congestion tolls and consumer welfare, Transportation Research Part B, 21B, 171, 10.1016/0191-2615(87)90015-4 Odoni, 2009, Chapter 12: airports, 343 Oum, 1996, Effects of airline code-sharing agreements on firm conduct and fares, Journal of Transport Economics and Policy, 30, 187 Oum, 2003, A comparative analysis of productivity performance of the world's major airports, Journal of Air Transport Management, 9, 285, 10.1016/S0969-6997(03)00037-1 Oum, 1993, Inter-firm rivalry and firm-specific price elasticities in deregulated airline markets, Journal of Transport Economics and Policy, 27, 171 Oum, 2004, Alternative forms of economic regulation and their efficiency implications for airports, Journal of Transport Economics and Policy, 28, 217 Oum, 1990, Airport pricing: congestion tolls, lumpy investment, and cost recovery, Journal of Public Economics, 43, 353, 10.1016/0047-2727(90)90006-4 Park, 2000, An empirical analysis of global airline alliances: cases in the North Atlantic markets, Review of Industrial Organization, 16, 367, 10.1023/A:1007888821999 Pels, 2001, Relative efficiency of European airports, Transport Policy, 8, 183, 10.1016/S0967-070X(01)00012-9 Pels, 2003, Inefficiencies and scale economies of European airport operations, Transportation Research Part E, 39, 341, 10.1016/S1366-5545(03)00016-4 Pels, 2004, The economics of airport congestion pricing, Journal of Urban Economics, 55, 257, 10.1016/j.jue.2003.10.003 Perelman, S., Serebrisky, T., 2010. Measuring the Technical Efficiency of Airports in Latin America. World Bank Working Paper 5339. Poole, R.W., 1990. Airport Privatization: What the Record Shows. The Reason Foundation Policy Study. The Reason Foundation, Los Angeles, CA, no. 124. Rupp, 2009, Determinants of fares and operating revenues at US airports, Journal of Urban Economics, 65, 24, 10.1016/j.jue.2008.07.003 Schank, 2005, Solving airside airport congestion: why peak runway pricing is not working, Journal of Air Transport Management, 11, 417, 10.1016/j.jairtraman.2005.05.007 Sheshinski, 1976, Price, quality and quantity regulation in monopoly, Econometrica, 84, 127 Silva, H.E., Verhoef, E.T., 2011. Optimal Pricing of Flights and Passengers at Congested Airports: The Efficiency of Atomistic Charges. Tinbergen Institute Discussion Paper no. 11-179/3. Amsterdam, Tinbergen Institute. Silva, H.E., E.T. Verhoef and V.A.C. van den Berg (2012), “Airlines’ strategic interactions and airport pricing in a dynamic bottleneck model of congestion,” Tinbergen Institute Discussion Paper No. 12-056/3, Amsterdam: Tinbergen Institute. Spence, 1975, Monopoly, quality and quantity regulation in monopoly, Bell Journal of Economics, 6, 407, 10.2307/3003237 Starkie, 2001, Reforming UK airport regulation, Journal of Transport Economics and Policy, 35, 119 Starkie, D., 2008. The Airport Industry in a Competitive Environment: A United Kingdom Perspective. OECD-ITF Discussion Paper no. 2008-15. Thompson, 2007, Airport retailing in the UK, Journal of Retail and Leisure Property, 6, 203, 10.1057/palgrave.rlp.5100067 Tirole, 1988 Topkis, 1998 Tretheway, 2005, The effect of market structure on airline prices: a review of empirical results, Journal of Air Law and Commerce, 70, 467 USDOT, 2008. Top Management Challenges. Report Number: PT-2009-005, Issued on November 17, 2008. US Department of Transportation, Washington, DC. Van Dender, 2007, Determinants of fares and operating revenues at US airports, Journal of Urban Economics, 62, 317, 10.1016/j.jue.2006.09.001 Vasigh, 1996, Airport privatization: a simple welfare analysis, Journal of Economics and Finance, 20, 89, 10.1007/BF02920610 Verhoef, 2010, Congestion pricing, slot sales and slot trading in aviation, Transportation Research Part B, 44, 320, 10.1016/j.trb.2009.07.002 Verhoef, E.T., 2012. Cost Recovery of Congested Infrastructure Under Market Power. Tinbergen Institute Discussion Paper no. 12-064/3. Amsterdam, Tinbergen Institute. Vickrey, 1969, Congestion theory and transport investment, American Economic Review, 59, 251 Werden, 1991, The effects of mergers on price and output: two case studies from the airline industry, Managerial and Decision Economics, 12, 341, 10.1002/mde.4090120502 Whalen, 2007, A panel data analysis of code sharing, antitrust immunity and open skies treaties in international aviation markets, Review of Industrial Organization, 30, 39, 10.1007/s11151-007-9125-0 Winston, 2008 White, 1979, Economies of scale and the question of ‘natural monopoly’ in the airline industry, Journal of Air Law and Commerce, 44, 545 Yan, J., Winston, C., 2012. Designing a Market for Privatized Airports: The Case of the San Francisco Bay Area. Working Paper. Washington State University. Yang, 2011, Price-cap regulation of congested airports, Journal of Regulatory Economics, 39, 293, 10.1007/s11149-010-9142-z Yang, 2012, Impact of regulation on transport infrastructure capacity and service quality, Journal of Transport Economics and Policy, 46, 415 Yuen, 2011, Airport congestion pricing and its welfare implications: the case of variable passenger time costs, Pacific Economic Review, 16, 83, 10.1111/j.1468-0106.2010.00536.x Zhang, 2012, Airport improvement fees, benefit spillovers, and land value capture mechanisms, 323 Zhang, 2010, Revenue sharing with multiple airlines and airports, Transportation Research, Part B, 44, 944, 10.1016/j.trb.2010.02.001 Zhang, 1997, Concession revenue and optimal airport pricing, Transportation Research Part E, 33, 287, 10.1016/S1366-5545(97)00029-X Zhang, 2003, Airport charges and capacity expansion: effects of concessions and privatization, Journal of Urban Economics, 53, 53, 10.1016/S0094-1190(02)00500-4 Zhang, 2006, Rivalry between strategic alliances, International Journal of Industrial Organization, 24, 287, 10.1016/j.ijindorg.2005.04.005 Zhang, 2006, Airport capacity and congestion when carriers have market power, Journal of Urban Economics, 60, 229, 10.1016/j.jue.2006.02.003 Zhang, 2011, Competition and regulation in air transport, 797 Zhang, 2010, Network structure and capacity requirement, Transportation Research Part E, 46, 189, 10.1016/j.tre.2009.08.002