This book offers new insights into the theory and practice of economic airport regulation. In light of recent developments in aviation markets and policy, and the debate on airport regulation and benchmarking, it offers case studies on various aspects of economic regulation of city and regional airports. Written by experts in the field, the volume features contributions on the theory of regulation and benchmarking, as well as case studies on recent experiences in Europe and Latin America.This book is divided into three parts: Part I provides the theoretical background for the study of airport regulation and regulatory systems. Competition at airports is discussed, as are common forms of regulation and potential pitfalls. Part II addresses benchmarking, as benchmarking is often applied as an input to the regulatory process. Although benchmarking is necessary, reviews of how benchmarking is applied in the literature and in practice show that improvements can be made. Part III providescase studies on real-world examples.
Addressing the question of whether and how European airport regulators set incentives for efficiency, and how benchmarking is used in the regulatory process, this book is an important contribution to the development of the transport industry in Europe and Latin America. It will appeal to scholars and students in transport economics, regional economics and related fields, as well as to practitioners and policy makers in the transport industry.
- 1. Introduction. - Part I Theoretical Background: Market Power and Regulation. - 2. How Strong Is Airport Competition: Is There a Case for Regulation?. - 3. European Hub Airport Competition: An Assessment of Market Concentration in the Local Catchment and in the Transfer Market. - 4. The Transactions Costs Foundation for Public Utility Regulation and Its Application to the Regulation of Airports. - 5. Cost-Based Versus Incentive Regulation for Airports. - 6. Airport Privatization and Regulation: Effects on Airport Charge, Capacity, and Social Welfare. - 7. Light-Handed Regulation of Airports: The Way to Go?. - 8. Optimising Investment in Regulated Airports. - 9. European Airport Reform: Slots and the Implicit Contract Between Airlines and Airports. - Part II Benchmarking. - 10. Efficiency Assessment of Airports and the Impact of Regulation on Performance. - 11. Methodology Choices for Benchmarking Airports. - 12. Practical Difficulties in Airport Benchmarking: The Case of Dublin Airport. - Part III Country Studies. - 13. Economic Regulation of Airports in the United Kingdom. - 14. French Airports Case Study. - 15. Airport Regulation and Benchmarking: Case Study Germany. - 16. Airport Market Power: Schiphol 10 Years After the Assessment. - 17. Changing Governance and Regulation of Airports: A Comparison of Austria, Denmark, Italy, Hungary, Portugal, and Spain. - 18. Private Participation and Economic Regulation of Airports in Latin America. - 19. Conclusion.
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