USING A CONTINGENT VALUATION APPROACH FOR EVALUATING THE BENEFITS OF AIRPORTS FOR REGIONAL ECONOMIES

摘要

Airports play a pivotal role in promoting regional wealth and growth. A multitude of studies have attempted to quantify the impact of airports on regional economies. However, most of these studies measure only the demand effects that are generated by the airport. Possible improvements on the supply side such as productivity gains, optimized supply chains or larger markets are often neglected. In this paper, we try to quantify the catalytic effects for regional economies that are induced by airports. We apply a contingent valuation approach, based on payment cards, for a secondary airport in Germany and its catchment area. By asking the company's decision makers about their Willingness To Accept (WTA) a fictitious closure of the airport, we gain insight into the monetarized importance of the airport, both for airport-using and non-using companies. The clustering of companies, based on their WTA, gives valuable insight into the question as to which industries benefit the most from the airport.