Airport Costs and Production Technology: A Translog Cost Function Analysis with Implications for Economic Development [Final]

McCarthy, Patrick; Georgia Institute of Technology

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Airport Costs and Production Technology: A Translog Cost Function Analysis with Implications for Economic Development [Final]

2011-12-01
By McCarthy, Patrick

[PDF-350.33 KB]

English

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Details:

Creators:

McCarthy, Patrick
Corporate Creators:

Georgia Institute of Technology
Corporate Contributors:

Georgia. Dept. of Transportation. Office of Materials & Research ; United States. Federal Highway Administration

Georgia. Dept. of Transportation. Office of Materials & Research ; United States. Federal Highway Administration Less -
Subject/TRT Terms:

[+]

Airport Capacity Airport Costs Airport Infrastructure Airport Runways Costs Economic Analysis Economic Development Economic Models Flexible Form Models Infrastructure Panel Data Runway Translog Cost Function
Publication/ Report Number:

FHWA-GA-11-1020
Resource Type:

Tech Report
Geographical Coverage:

Georgia
Edition:

Final; Aug. 2010-July 2011.
Corporate Publisher:

Georgia. Dept. of Transportation
NTL Classification:

NTL-AVIATION-Aviation Economics and Finance;NTL-ECONOMICS AND FINANCE-ECONOMICS AND FINANCE;NTL-ECONOMICS AND FINANCE-Economic Impacts;NTL-ECONOMICS AND FINANCE-Aviation Economics and Finance;
Abstract:

Based upon 50 large and medium hub airports over a 13 year period, this research estimates one and two output translog models of airport short run operating costs. Output is passengers transported on non-stop segments and pounds of cargo shipped. The number of runways is a quasi-fixed factor of production. Statistical tests reject the null hypothesis that airport production technology is homothetic and homogeneous, exhibits constant returns to scale, or reflects a Cobb-Douglas production technology. From the analysis, airports operate under increasing returns to runway utilization and increasing ray economies of scale for the two-output model. Airport operating costs were 2% higher after the September 1, 2001 terrorist attacks. The input demand for general airport operations is price elastic, and Morishima substitution elasticities indicate that Personnel, Repair-Maintenance-Contractual services, and General Airport Operations are substitutes in production. For the one output passenger model, an exploratory analysis identifies a relationship between the average cost of airport operations and indicators of economic development. All else constant, a decrease in an airport’s real average operating costs is associated with increasing metropolitan employment, the number of establishments, and real gross metropolitan and state products.
Format:

PDF
Funding:

0009929
Collection(s):

US Transportation Collection
Main Document Checksum:

[+]

urn:sha256:a37d12c3aebc7185132f4f0e7cc86586cc72dbb66697d52d674e792096818d36
Download URL:

https://rosap.ntl.bts.gov/view/dot/24394/dot_24394_DS1.pdf
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Airport Costs and Production Technology: A Translog Cost Function Analysis with Implications for Economic Development [Final]

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