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Performance of European Airports: Regulation, Ownership and Managerial Efficiency

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Author Info
Carlos Pestana Barros
Rui Cunha Marques

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Abstract

This paper analyzes regulation, ownership and unobserved managerial ability as factors affecting the performance of a representative sample of European airports by means of frontier models. The Alvarez, Arias and Greene (2004) frontier model is used. These airports are ranked according to their technical efficiency during the period 2001-2004 and homogenous and heterogeneous variables are disentangled in the cost function, which leads us to advise the implementation of common policies as well as policies by segments. Economic implications arising from the study are also considered.

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Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2008/25.

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Date of creation: Apr 2008
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Handle: RePEc:ise:isegwp:wp252008

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Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

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Related research
Keywords: Europe; airports; stochastic frontier models; regulation; ownership and unobserved managerial ability.;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Sarkis, Joseph & Talluri, Srinivas, 2004. "Performance based clustering for benchmarking of US airports," Transportation Research Part A: Policy and Practice, Elsevier, vol. 38(5), pages 329-346, June. [Downloadable!] (restricted)
  2. Marques, Rui Cunha & Brochado, Ana, 2008. "Airport regulation in Europe: Is there need for a European Observatory?," Transport Policy, Elsevier, vol. 15(3), pages 163-172, May. [Downloadable!] (restricted)
  3. Chesher, Andrew D, 1984. "Testing for Neglected Heterogeneity," Econometrica, Econometric Society, vol. 52(4), pages 865-72, July. [Downloadable!] (restricted)
  4. William Greene, 2002. "Fixed and Random Effects in Stochastic Frontier Models," Working Papers 02-16, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
  5. Pels, Eric & Nijkamp, Peter & Rietveld, Piet, 2001. "Relative efficiency of European airports," Transport Policy, Elsevier, vol. 8(3), pages 183-192, July. [Downloadable!] (restricted)
  6. Kaparakis, Emmanuel I & Miller, Stephen M & Noulas, Athanasios G, 1994. "Short-Run Cost Inefficiency of Commercial Banks: A Flexible Stochastic Frontier Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(4), pages 875-93, November. [Downloadable!] (restricted)
  7. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August. [Downloadable!] (restricted)
  8. Avkiran, Necmi K. & Rowlands, Terry, 2008. "How to better identify the true managerial performance: State of the art using DEA," Omega, Elsevier, vol. 36(2), pages 317-324, April. [Downloadable!] (restricted)
  9. Antonio Álvarez & Carlos Arias & William Greene, 2004. "Accounting for unobservables in production models:management and inefficiency," Economic Working Papers at Centro de Estudios Andaluces E2004/72, Centro de Estudios Andaluces. [Downloadable!]
    Other versions:
  10. Carlos Pestana Barros, 2008. "The Technical Efficiency of UK Airports," Working Papers 2008/10, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  11. Yin-Fang Zhang & David Parker & Colin Kirkpatrick, 2008. "Electricity sector reform in developing countries: an econometric assessment of the effects of privatization, competition and regulation," Journal of Regulatory Economics, Springer, vol. 33(2), pages 159-178, April. [Downloadable!] (restricted)
    Other versions:
  12. Chesher, Andrew & Santos Silva, J M C, 2002. "Taste Variation in Discrete Choice Models," Review of Economic Studies, Blackwell Publishing, vol. 69(1), pages 147-68, January.
  13. Battese, George E. & Coelli, Tim J., 1988. "Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data," Journal of Econometrics, Elsevier, vol. 38(3), pages 387-399, July. [Downloadable!] (restricted)
  14. Mefford, Robert N, 1986. "Introducing Management into the Production Function," The Review of Economics and Statistics, MIT Press, vol. 68(1), pages 96-104, February. [Downloadable!] (restricted)
  15. Barros, Carlos Pestana, 2008. "Technical change and productivity growth in airports: A case study," Transportation Research Part A: Policy and Practice, Elsevier, vol. 42(5), pages 818-832, June. [Downloadable!] (restricted)
  16. Kenneth Train, 2003. "Discrete Choice Methods with Simulation," Online economics textbooks, SUNY-Oswego, Department of Economics, number emetr2, March. [Downloadable!]
  17. Basso, Leonardo J., 2008. "Airport deregulation: Effects on pricing and capacity," International Journal of Industrial Organization, Elsevier, vol. 26(4), pages 1015-1031, July. [Downloadable!] (restricted)
  18. Crew, Michael A & Kleindorfer, Paul R, 1996. "Incentive Regulation in the United Kingdom and the United States: Some Lessons," Journal of Regulatory Economics, Springer, vol. 9(3), pages 211-25, May.
  19. Achim Czerny, 2006. "Price-cap Regulation of Airports: Single-till Versus Dual-till," Journal of Regulatory Economics, Springer, vol. 30(1), pages 85-97, 07. [Downloadable!] (restricted)
  20. William Greene, 2003. "Distinguishing Between Heterogeneity and Inefficiency: Stochastic Frontier Analysis of the World Health Organization’s Panel Data on National Health Care Systems," Working Papers 03-10, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
    Other versions:
  21. Stephen Littlechild, 2003. "Reflections on Incentive Regulation," Review of Network Economics, Concept Economics, vol. 2(4), pages 289-315, December. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Pavlyuk, Dmitry, 2009. "Spatial competition for passengers and its influence on efficiency of European airports," MPRA Paper 16930, University Library of Munich, Germany. [Downloadable!]
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