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Research of Risk Allocation Mehanism/Contract in Aviation Sector

Research Project

Project/Area Number 25518002
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field 公共政策
Research InstitutionThe University of Tokyo

Principal Investigator

HIHARA Katsuya  東京大学, 大学院公共政策学連携研究部, 客員研究員 (70526673)

Project Period (FY) 2013-04-01 – 2016-03-31
Project Status Completed (Fiscal Year 2015)
Budget Amount *help
¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2015: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2014: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Keywords契約理論 / 航空政策 / ゲーム理論 / リスク分配 / プリンシパルエージェント理論 / 交通経済学 / 交通政策 / 確率的動的最適化 / 交通経済
Outline of Final Research Achievements

The relationship between airport and airline is multi-functional and complex since it is conflicting and cooperating at the same time. Recently some airports and airlines signed such risk sharing contracts that allocate revenue/profit fluctuation risk between them. Ministry of Transport is also considering such risk allocation contracts between the two in deciding the slot allocation at congested airports like Haneda.
This research, based on contract theory, game theory, principal-agent theory and transport economics, has shown that if a risk allocation contract is designed properly, then it functions as an incentive device to enhance the effort levels of both airport and airline, overcoming the moral hazard problem arising from asymmetric information structures in the real business environment. Also such risk allocation contract brings about higher utility level not only of airport and airline, but also of passengers to use the air routes at the airport.

Report

(4 results)
  • 2015 Annual Research Report   Final Research Report ( PDF )
  • 2014 Research-status Report
  • 2013 Research-status Report
  • Research Products

    (4 results)

All 2015 2014 Other

All Journal Article (1 results) (of which Peer Reviewed: 1 results) Presentation (2 results) Book (1 results)

  • [Journal Article] Article title: An Analysis of Airport-Airline Vertical Relationships with Risk Sharing Contracts under Asymmetric Information Structures2014

    • Author(s)
      Katsuya Hihara
    • Journal Title

      Transportation Research Part C

      Volume: 44C Pages: 80-97

    • DOI

      10.1016/j.trc.2014.02.003

    • Related Report
      2013 Research-status Report
    • Peer Reviewed
  • [Presentation] An Analysis on Airport-Airline Vertical Relationships with Risk Sharing Contracts under Asymmetric Information Structures2014

    • Author(s)
      日原 勝也
    • Organizer
      公益事業学会
    • Place of Presentation
      電力中央研究所(東京都千代田区大手町)
    • Year and Date
      2014-06-22
    • Related Report
      2014 Research-status Report
  • [Presentation] Multi-sided Analysis of Airport - Airline Risk Sharing Contract

    • Author(s)
      Katsuya Hihara
    • Organizer
      Air Transport Research Society
    • Place of Presentation
      ベルガモ大学(イタリア、ベルガモ)
    • Related Report
      2013 Research-status Report
  • [Book] Chapter: Role of Aviation in Climate Change Mitigation, Katsuya Hihara, Handbook of Climate Change Adaptation and Mitigation, W. Chen et al. ed. Springer,2015

    • Author(s)
      Katsuya Hihara
    • Publisher
      Springer
    • Related Report
      2015 Annual Research Report

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Published: 2014-07-25   Modified: 2019-07-29  

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