After a discourse on commercialisation and privatisation in the sector, this paper assesses the financial performance of 35 European commercial airports for the decade 1990 to 2000 by comparing those in mixed public-private and fully private ownership to those in public possession. The outcomes...

I examine the effects of Nasdaq’s introduction of an anonymous trading facility called SIZE. I compare SIZE to competing ECNs in terms of liquidity and market impact. Despite rapid growth, SIZE has not yet attained a significant market share and rarely influences short-run price...

Regulation 1/2003 empowers the European Commission to adopt remedies of a structural nature in order to bring an infringement of the rules of competition to an end. This paper first describes the legal conditions that have to be fulfilled for a structural remedy to be imposed under Art. 82....

This paper studies how different types of unbundling – accounting, management, legal and ownership unbundling – influence the electricity wholesale market. Starting from the current market situation as observed in many countries, with imperfect competition in generation and...

We present an approach to implement an auction of railway slots. Railway network, train driving characteristics, and safety requirements are described by a simplified, but still complex macroscopic model. In this environment, slots are modelled as combinations of scheduled track segments. The...

Interconnectors pose a challenge to EC competition law. Finding investment for capital-intensive infrastructure investment such as interconnectors means that the requirements of financiers and project sponsors for long-term predictability of cash flow is assured. T at usually involves long-term...

There had been a long history of regulation of transport for economic and social reasons and in virtually all countries a massive edifice of legal structures were developed to control its supply and use. This has changed dramatically as the perceptions of the role of transport have altered, our...

Regulation is an information problem. In this paper we show that benchmarking can have an important role to play in extracting information and providing efficiency incentives. However, the effectiveness of this role depends both on the credibility of the regulator to undertake a comparative...

This paper presents the results of one of the first systematic analyses of the magnitude and determinants of transaction costs in public-private partnerships (PPPs). Given limited data availability, the analysis is confined to procurement-phase costs of bidding and contract negotiation, thus...