Recent years have seen a global trend towards the emergence of multi-airport companies operating at a global scale. This paper employs industrial and transaction costs economics to identify the main drivers that shape the patterns of international cross-ownership structures that have emerged in...

Like most large cities, Sydney has an airport problem. Demand is increasing faster than supply, and additional capacity will be needed if costly rationing, and delays, are to be avoided. However, compared to many cities, the problems facing Sydney are modest. At the moment, demand is only just...

An implicit partial differential equation (PDE) method is used to determine the cost of hedging for a Guaranteed Lifelong Withdrawal Benefit (GLWB) variable annuity contract. In the basic setting, the underlying risky asset is assumed to evolve according to geometric Brownian motion, but this is...

The economic approach (as compared to the traditional exchange of rights approach) to evaluating international aviation liberalisation proposals is gradually becoming more commonly used. With it, the various benefits and costs of liberalisation are assessed in a cost benefit framework. This...