An evaluation of yardstick regulation for European airports

An evaluation of yardstick regulation for European airports

Journal: Air Transport Management

Author: Annika Reinhold, Hans-Martin Niemeier, Vanessa Kamp, Jurgen Muller

Published: 2010

Abstract

The European airport industry is subject to various forms of economic regulation and there is debate as to which of the systems provides the best incentives for allocative and productive efficiency. This paper deals with the applicability of bench marking as a regulatory tool for airports. This form of regulation aims at evaluating the cost level of a firm by comparing it to the mean marginal cost structure of all other firms in the market. The paper investigates the difficulties arising from airport bench marking as well as the benefits that might be derived from it by drawing lessons from benchmark regulation in other industries and the few cases where it has been applied to airports. In particular, it assesses whether yardstick regulation is a feasible alternative to the existing forms of economic regulation or whether yardsticks are more useful for internal management purposes.

Keywords: Airport economics, Policies, Airport performance, Regulation, Privatization of airports

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