Joint impact of competition,ownership form and economic regulation on airport performance and pricing |
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| Institution: | 1. Hebrew University of Jerusalem, Israel;2. University of British Columbia, Canada;3. School of Humanities and Social Sciences, Jacobs University Bremen, Germany;1. Department of Economics and Technology Management, University of Bergamo, Viale Marconi 5, 24044 Dalmine (BG), Italy;2. Robert H. Smith School of Business, University of Maryland, College Park, MD 20742-1815, United States;3. College of Business, Embry Riddle Aeronautical University, 600 S. Clyde Morris Blvd., Daytona Beach, FL 32114, United States;1. Sauder School of Business, 2053 Main Mall, University of British Columbia, Vancouver, BC V6T1Z2, Canada;2. Department of Management Sciences, University of Waterloo, 200 University Avenue West, Waterloo, Ontario N2L 3G1, Canada;1. Institute of Transport and Logistics Studies, The University of Sydney, Sydney, NSW 2006, Australia;2. Isenberg School of Management, University of Massachusetts, Amherst, MA 01003, USA;1. Poznań University of Economics, Department of Microeconomics, Al. Niepodległości 10, 61-875 Poznań, Poland;2. Universitat Autònoma de Barcelona, Department of Business, Plaça Cívica, UAB Campus, 08193 Bellaterra, Barcelona, Spain;1. Isenberg School of Management, University of Massachusetts-Amherst, United States;2. Sauder School of Business, University of British Columbia, Canada;3. Lancaster University Management School, United Kingdom |
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| Abstract: | The combined impact of ownership form, economic regulation and competition on airport performance is analyzed using data envelopment analysis to measure cost efficiency in the first stage and regression analysis to measure the impact of the environment in the second stage. The empirical results of an analysis of European and Australian airports over a 10 year timeframe reveal that under relatively non-competitive conditions, public airports operate less cost efficiently than fully private airports. Irrespective of ownership form, regulation is necessary to emulate competitive forces thus pushing airport management towards cost efficiency and reasonable pricing policies. Under potential regional or hub competition, economic regulation inhibits airports of any ownership form from operating and pricing efficiently. Although public and fully private airports operate equally efficiently in a competitive setting, private airports still set higher aeronautical charges. Furthermore, mixed ownership forms with a majority public holding are neither cost efficient nor low price, irrespective of the level of competition. |
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| Keywords: | Airport efficiency Data envelopment analysis Ownership form Regulation Competition Pricing |
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