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The economics of airport noise: How to manage markets for noise licenses
Authors:Thierry Bré  chetPierre M. Picard
Affiliation:a CORE, Louvain School of Management, Université Catholique de Louvain, Louvain-La-Neuve, Belgium
b CREA, University of Luxembourg, Rue de la Faiencerie 162A, Luxembourg 1511, Luxembourg
Abstract:This paper discusses various issues in the implementation of a local market for aircraft noise licenses to solve the noise externalities harming the residents located near airports. The design of such markets is affected by aircraft heterogeneity, wind contingencies, peak times, runways capacity constraints, hub strategies, and airport planning is discussed.
Keywords:Airport noise   Noise licensing   Economics of noise
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