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Our most academic publication offers research and surveys on monetary policy, national and international developments, banking, and more. The content is written for an economically informed readership—from the undergraduate student to the PhD.

Vol. 91, No. 6 (Posted 2009-11-02)

Auctions as a Vehicle to Reduce Airport Delays and Achieve Value Capture

by Jeffrey P. Cohen, Cletus C. Coughlin, and Lesli S. Ott

Congestion at airports imposes large costs on airlines and their passengers. A key reason for congestion is that an airline schedules its flights without regard to the costs imposed on other airlines and their passengers. As a result, during some time intervals, airlines schedule more flights to and from an airport than that airport can accommodate and flights are delayed.

Cite this article

Figure 6 in this article has been revised: The combination of bids closest to Vickrey prices was incorrectly shown as 19 (bidder 1) and 13 (bidder 2), but has been corrected to 17 (bidder 1) and 15 (bidder 2).

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