Determining the Number of Slots to Submit to a Market Mechanism at a Single Airport

Abstract

In this thesis, several stochastic optimization models are presented to determine the number of airport arrival slots that should be made available for distribution via a market mechanism. Considerable attention is paid to the structure and mathematical properties of each of these models, with regards to obtaining integer-valued solutions. Calibration of the various parameters is undertaken using historical data. In addition, an analysis of the average pecuniary valuations assigned to each slot is presented, as this is an essential input to these models. Several methods are suggested by which each of these values can be estimated. The models are intended to be taken in a general context, but extensive computational examples making use of data for LaGuardia Airport are provided as a case study in the application of the various techniques presented herein.