Scipediacontent: Scipediacontent moved page Draft Content 303022882 to Balliauw Onghena 2020a

2021-02-16T12:46:21Z

Scipediacontent moved page Draft Content 303022882 to Balliauw Onghena 2020a

Scipediacontent: Created page with " == Abstract == Airport capacity constraints are increasingly challenging the growth of air traffic. At the same time, decision-making about airport capacity investments i..."

2021-02-16T12:46:18Z

Created page with " == Abstract == Airport capacity constraints are increasingly challenging the growth of air traffic. At the same time, decision-making about airport capacity investments i..."

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== Abstract ==

Airport capacity constraints are increasingly challenging the growth of air traffic. At the same time, decision-making about airport capacity investments is extremely complex, involving trade-offs. This paper’s objective is to optimise a privately owned airport system’s capacity investment decision in a city under demand uncertainty. Next to the investment size, our real options model incorporates the timing of the investment, as well as the cost of congestion. The results reveal that the larger a city’s initial airport capacity, the smaller its investment will relatively be and the lower the occupancy rate threshold at which investment will take place. We also show that, in case of a higher demand growth combined with more demand uncertainty, the city will benefit from a significantly larger investment, but made later at a higher occupancy rate. In this case, cities with a small initial capacity will sometimes even more than double current capacity. Higher airport charges and an increase in non-aeronautical revenues both lead to a later investment in more capacity, due to the increased project attractiveness. An increase in congestion costs results in a larger investment made earlier, in order to eliminate delays. Airport operational cost and capacity holding cost increases both lead to smaller investments.

== Original document ==

The different versions of the original document can be found in:

* [https://hdl.handle.net/10067/1661700151162165141 https://hdl.handle.net/10067/1661700151162165141]

* [https://api.elsevier.com/content/article/PII:S0969699719304442?httpAccept=text/xml https://api.elsevier.com/content/article/PII:S0969699719304442?httpAccept=text/xml],
: [https://api.elsevier.com/content/article/PII:S0969699719304442?httpAccept=text/plain https://api.elsevier.com/content/article/PII:S0969699719304442?httpAccept=text/plain],
: [http://dx.doi.org/10.1016/j.jairtraman.2020.101791 http://dx.doi.org/10.1016/j.jairtraman.2020.101791] under the license https://www.elsevier.com/tdm/userlicense/1.0/

* [https://www.sciencedirect.com/science/article/pii/S0969699719304442 https://www.sciencedirect.com/science/article/pii/S0969699719304442],
: [https://academic.microsoft.com/#/detail/3007324333 https://academic.microsoft.com/#/detail/3007324333]

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Balliauw Onghena 2020a - Revision history

Scipediacontent: Scipediacontent moved page Draft Content 303022882 to Balliauw Onghena 2020a

Scipediacontent: Created page with " == Abstract == Airport capacity constraints are increasingly challenging the growth of air traffic. At the same time, decision-making about airport capacity investments i..."