Assignment of Arrival Slots
AbstractIndustry participants agree that, when inclement weather forces the FAA to reassign airport landing slots, incentives and property rights should be respected. We show that the FAA's Compression algorithm is incentive compatible, but fails to guarantee a form of property rights. This is significant since these conditions were the motivation for introducing Compression a decade ago. We give an alternative mechanism that does satisfy these conditions. It has the flavor of Top Trading Cycle variants of Abdulkadiroğlu and SÃ¶nmez (1999) and PÃ¡pai (2000) for related but distinct models. Finally, both mechanisms may fail another condition: the incentive to vacate unusable landing slots. (JEL D45, D82, L93, L98, P14, R41)
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Journal: Microeconomics.
Volume (Year): 5 (2013)
Issue (Month): 2 (May)
Find related papers by JEL classification:
- D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
- L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy
- P14 - Economic Systems - - Capitalist Systems - - - Property Rights
- R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion
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