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An empirical analysis of airport slot trading in the United States

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  • Fukui, Hideki
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    Abstract

    The purpose of this paper is to examine whether the manipulative or strategic behaviors of slot-holding carriers have resulted in restricted market entry and service expansion by other carriers, especially rival carriers, at the four US airports that have secondary slot markets. Airport congestion and flight delays at many major airports have become a serious problem. It has been suggested that a secondary slot market is one of the most practical options for addressing airport congestion, which would increase the possibility of competitive entry and efficient use of scarce resources. A secondary slot market would work in the same manner as a congestion toll system or an auction system, provided that carriers' manipulative or strategic behaviors do not have serious effects on slot trading. However, the empirical effects of slot markets have not been investigated systematically. This paper examines empirically whether carriers' manipulative or strategic behaviors have impeded effective functioning of slot markets. Slot transfer data from four US airports between 1994 and 1999 were examined using regression analysis. Results of the analysis are mixed, suggesting that the most effective way of congestion management depends on conditions unique to each airport, and that subsequent interventions should reflect those conditions.

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    Bibliographic Info

    Article provided by Elsevier in its journal Transportation Research Part B: Methodological.

    Volume (Year): 44 (2010)
    Issue (Month): 3 (March)
    Pages: 330-357

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    Handle: RePEc:eee:transb:v:44:y:2010:i:3:p:330-357

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    Keywords: Congestion management Airport slot Secondary market Manipulative behavior;

    References

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    1. Douglas W. Caves & Laurits R. Christensen & Michael W. Tretheway, 1984. "Economies of Density versus Economies of Scale: Why Trunk and Local Service Airline Costs Differ," RAND Journal of Economics, The RAND Corporation, vol. 15(4), pages 471-489, Winter.
    2. Borenstein, Severin, 1988. "On the Efficiency of Competitive Markets for Operating Licenses," The Quarterly Journal of Economics, MIT Press, vol. 103(2), pages 357-85, May.
    3. Frank Berardino, 2009. "New US Airport Slot Policy in Flux," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 43(2), pages 279-290, May.
    4. Brueckner, Jan K., 2009. "Price vs. quantity-based approaches to airport congestion management," Journal of Public Economics, Elsevier, vol. 93(5-6), pages 681-690, June.
    5. Adelman, M A, 1969. "Comment on the "H" Concentration Measure as a Numbers-Equivalent," The Review of Economics and Statistics, MIT Press, vol. 51(1), pages 99-101, February.
    6. Christopher Mayer & Todd Sinai, 2003. "Network Effects, Congestion Externalities, and Air Traffic Delays: Or Why Not All Delays Are Evil," American Economic Review, American Economic Association, vol. 93(4), pages 1194-1215, September.
    7. J. Scott Long & Jeremy Freese, 2006. "Regression Models for Categorical Dependent Variables using Stata, 2nd Edition," Stata Press books, StataCorp LP, edition 2, number long2, March.
    8. Brueckner, Jan K & Spiller, Pablo T, 1994. "Economies of Traffic Density in the Deregulated Airline Industry," Journal of Law and Economics, University of Chicago Press, vol. 37(2), pages 379-415, October.
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    Cited by:
    1. Kappes, Jan Willem & Merkert, Rico, 2013. "Barriers to entry into European aviation markets revisited: A review and analysis of managerial perceptions," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 57(C), pages 58-69.

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