Informations and abstract
Keywords: Airport Economics, Competition, Regulation, Market Power, Policy Efficiency. Jel Classification: L510; L930; L110
The paper analyzes the on-going process for reforming airport regulation in Italy and in uk. The object is to explore whether an airport «[...] has, or is likely to acquire, substantial market power» and requires formal price regulation, or whether more competitive circumstances may support a transition towards light-handed policy based on competition laws. The eu Directive 12/ec/2009 outlines such a transition and provides, in the case of major airports, for a system based on a competitive mechanism of negotiation between airports and consumers and on the price surveillance of an independent authority. The uk reform of airport market shows that the case for regulation persists and that the possibility to implement the proposed light-handed mechanism has to be evaluated on a case by case basis since it depends on how effective and strong competition is in each airport. The policy implication of such an approach is that new flexible mechanisms, designed under the principles of «proportionality, accountability, consistency, transparency, targeted», are required to regulate, also in a dynamic perspective, the specific issues charactering each airport.