Abstract: The last ten years has witnessed a revolution in the development and use of market-based methods to efficiently allocate scarce resources. Most importantly, in the last few years there has been a burst of activity in designing efficient auctions for multiple items involving both substitutes and complements for bidders with complex preferences. These recent developments are especially relevant to the problem at LaGuardia and other congested airports. Market Design Inc. urges the Federal Aviation Administration (FAA) to make use these important advances.
The recent experience with market-based methods has made clear that with careful design, the methods offer huge gains in efficiency that will benefit both passengers and the aviation industry in general.
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