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Airports serve an essential role in domestic and international
travel, facilitating the origination, termination, and connections
of air flights. Airport services enhance regional, national, and
global connections, increasing the mobility of people worldwide and
enhancing local and regional economies. Although there is a large
amount of literature that examines airline costs and productivity,
consumer welfare from air travel, and the influence of economic
regulation of airline services, there is much less literature that
examines airports. This is important, as airport operations play a
critical role in influencing airline travel. This volume examines
the role that airports play in economic development and land
values, the regulation and economic efficiency of airports, airport
pricing and competition, and the role played by airports in
influencing airline operations and networks.
Transportation Policy and Economic Regulation: Essays in Honor of
Theodore Keeler addresses a number of today's important
transportation policy issues, exploring a variety of transportation
modes, and examining the policy implications of a number of
alternatives. Theodore Keeler had a distinguished career in
transportation economics, helping to shape regulatory policies
concerning the transportation industries and assessing the
appropriateness of various policies. A distinguishing feature of
his work is that it always had policy implications. As a tribute to
Theodore Keeler, this book examines transportation policy issues
across a variety of transportation industries, including aviation,
railroads, highways, motor carrier transport, automobiles, urban
transit, and ocean shipping. The book evaluates the economic impact
and effectiveness of various policies, employing empirical analyses
and new estimation techniques, such as Bayesian analysis. The book
is designed for transportation professionals and researchers, as
well as transportation economics students, providing an in-depth
analysis of some of today's important transportation policy issues.
Policy changes established in the last 35-40 years have introduced
profound changes in the business environment of the transportation
industry. Past policy changes promoted the free market's role in
setting prices and determining service availability. While 21st
century policy has focused on a variety of other issues, such as
safety, road and air congestion, productivity growth, labor
relations and exhaust emission, many still promote the role of
competition. In addition to examining various transportation policy
issues in the U.S., the book explores some approaches to dealing
with transportation issues in different parts of the world.
Contemporary transportation policy debates have broadened from
their initial focus of primarily examining the merits of reforming
economic regulations at national levels, to now examining a variety
of issues such as alternative methods of social regulation (such as
safety regulation and emission controls), new approaches to
changing economic regulations, the potential for reforming
international regulations, and the appropriate role for government
in transportation.
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