Pii: S1366-5545(00)00004-1
نویسندگان
چکیده
This paper shows that ``strict'' ®nancial break-even for airports may not be socially desirable. To maximize social welfare, airports should be allowed to take losses or make pro®ts at dierent times while achieving break-even only in the long run. In particular, with economies growing over time, socially optimal pricing for a new airport can involve de®cit in its early years and surplus in its later years. This result has practical policy implications for the newly-built or expanded airports especially in the Asia-Paci®c region. Ó 2000 Elsevier Science Ltd. All rights reserved.
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