arrow checkmark code cross email facebook magnifier pdf phone plus twitter user youtube

Biblioteca

Publicado en: Artículo en revista académica

Effects of asymmetric information on airport congestion management mechanisms

Nicolás Figueroa; Olivia Aravena y Leonardo J. Basso

International Journal of Industrial Organization. Vol. 62, January 2019, Pages 4-27

Abstract: We study and compare three different mechanisms for capacity (slot) allocation in a congested airport when airlines have one-dimensional private information: direct allocation of slots, differentiated tolls and slot auctions. With perfect information, direct allocation is a first best policy which can be implemented through Pigouvian taxes or slot auctions; the mechanisms are equivalent in terms of social welfare. With the introduction of asymmetric information this equivalence is lost: direct allocation is always ex-post inefficient and, in some cases, tolls and subsequent quantity delegation is a better alternative social welfare wise. Auctions may be superior or inferior to tolls. We further show that naïve application of Pigouvian tolls is sub-optimal when imperfect information exists.

Keywords: Airport congestion, Pigouvian tolls, Airport slots, Asymmetric information.

JEL classification: D62, L50, L93, R41, R48

 

Ir a publicación