There exists a common belief among researchers and regional policy makers that the actual central system of Aeropuertos EspaA +/- oles y NavegaciA(3)n A,rea (AENA) should be changed to one more decentralized where airport managers could have more autonomy. The main objective of this article is to evaluate the efficiency of the Spanish airports using Markov chain Monte Carlo (MCMC) simulation to estimate a stochastic frontier analysis (SFA) model. Our results show the existence of a significant level of inefficiency in airport operations. Additionally, we provide efficient marginal cost estimates for each airport which also cast some doubts about the current pricing practices.
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Univ Autonoma Barcelona UAB, Business Dept, Fac Business & Econ, Bellaterra 08193, SpainUniv Autonoma Barcelona UAB, Business Dept, Fac Business & Econ, Bellaterra 08193, Spain
Ripoll-Zarraga, Ane Elixabete
Mar-Molinero, Cecilio
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Univ Kent, Kent Business Sch, Canterbury, Kent, EnglandUniv Autonoma Barcelona UAB, Business Dept, Fac Business & Econ, Bellaterra 08193, Spain
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Univ Las Palmas Gran Canaria, Dept Anal Econ Aplicado, Res Grp Econ Infrastruct & Transport, Las Palmas Gran Canaria 35017, SpainUniv Las Palmas Gran Canaria, Dept Anal Econ Aplicado, Res Grp Econ Infrastruct & Transport, Las Palmas Gran Canaria 35017, Spain