Grandfather rights in the market for airport slots
AbstractGrandfather rights are currently used in the European Union to allocate airport slots. This article shows that airports prefer such a use-it-or-lose-it rule to unconditional property rights. Assuming that there are informational asymmetries between airports and air carriers because air carriers have better information on passenger demand, the use-it-or-lose-it rule increases slot use when demand for air transport is low. Airport prots increase and those of the air carriers, together with social welfare, decrease. The prot-maximizing rule is a use-it- g
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Bibliographic InfoPaper provided by Technische Universität Braunschweig, Economics Department in its series Economics Department Working Paper Series with number 4.
Date of creation: 2009
Date of revision:
Airports; Grandfather rights; use-it-or-lose-it rule; airport slots;
Other versions of this item:
- Sieg, Gernot, 2010. "Grandfather rights in the market for airport slots," Transportation Research Part B: Methodological, Elsevier, vol. 44(1), pages 29-37, January.
- L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
- D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly
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