Airport capacity extension, fleet investment, and optimal aircraft scheduling in a multilevel market model: Quantifying the costs of imperfect markets
| Autor: | Mathias Sirvent, Stefano Coniglio, Martin Weibelzahl |
|---|---|
| Přispěvatelé: | Publica |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Operations research
Aviation 0211 other engineering and technologies Scheduling (production processes) Mixed-Integer Optimization ComputerApplications_COMPUTERSINOTHERSYSTEMS 02 engineering and technology Management Science and Operations Research Long-Run Investments 0502 economics and business ddc:330 Perfect competition Multilevel Optimization OR in airlines Mixed-integer optimization Multilevel optimization Market design Long-run investments OR in Airlines 050210 logistics & transportation 021103 operations research Settore INF/01 - Informatica business.industry 05 social sciences Market Design Investment (macroeconomics) Social planner Ticket Business Management and Accounting (miscellaneous) Runway Business Settore MAT/09 - Ricerca Operativa Inefficiency |
| Popis: | We present a market model of a liberalized aviation market with independent decision makers. The model consists of a hierarchical, trilevel optimization problem where perfectly competitive budget-constrained airports decide (in the first level) on optimal runway capacity extensions and airport charges by anticipating long-term fleet investment and medium-term aircraft scheduling decisions taken by a set of imperfectly competitive airlines (in the second level). Both airports and airlines anticipate the short-term outcome of a perfectly competitive ticket market (in the third level). We compare our trilevel model to an integrated single-level (benchmark) model in which investments, scheduling, and market-clearing decisions are simultaneously taken by a welfare-maximizing social planner. Using a simple six airports example from the literature, we illustrate the inefficiency of long-run investments in both runway capacity and aircraft fleet which may be observed in aviation markets with imperfectly competitive airlines. |
| Databáze: | OpenAIRE |
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