The Economics Of Airport Noise: How To Manage Markets For Noise Licenses
Noise-induced pollution constitutes a hot and topical societal problem for all major airports. This paper discusses various issues in the implementation of a market for noise licenses as a solution to solve the noise externality between the residents located around airports and the aircrafts moving in and to airports. The purpose of the current paper is to further explore some practical issues related to the implementation of such a market. The authors complement the theoretical paper by analyzing additional issues about noise licenses markets. The aim is to help practitioners to consider this economic instrument in the management of airport noise.