콘텐츠 바로가기
로그인
컨텐츠
  • HOME
  • SEARCH
PLUS Text Size MINUS RESET
FACEBOOK TWITTER Linked In

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic Administration
Economy Economic System
Territorial Development Transport/Logistics

Print

Decision framework for private participation in airport development : The case of Incheon international airport in South Korea

Related Document
Frame of Image
  • Decision framework for private participation in airport development
  • In, Soh Young; Casemiro, Luiza A. S.; Kim, Julie
  • Stanford University


link
Title Decision framework for private participation in airport development
Similar Titles
Sub Title

The case of Incheon international airport in South Korea

Material Type Reports
Author(English)

In, Soh Young; Casemiro, Luiza A. S.; Kim, Julie

Publisher

[Stanford, U.S.] : Stanford University

Date 2016-04
Pages 23
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Economy < Economic System
Territorial Development < Transport/Logistics
Holding Stanford University
License

Abstract

The private sector has increasingly participated in operation and management of public airports. However, policymaking on airport development remains challenging because the properties of public airports as public goods often involve complex principal-agent problems. The government, as a principal, defines requirements to improve the airport’s infrastructure and service levels, and the private sector, as an agent, is responsible to meet the requirements. Yet the objectives of the principal and agent are different and often conflict with each other; the private sector aims to maximize the economic profit while the public sector’s primary goal is to maximize the social welfare. A public airport development policy should, therefore, align the interests of these two parties. This study proposes a policymaking framework to determine and execute the optimal policy for airport development. (The rest omitted)