By Giovanni Alberto Tabacco
This publication provides an unique empirical research of the marketplace constitution of airline urban pair markets, laying off new gentle at the workings of aggressive strategies among agencies. reading a cross-section people airline urban pairs, Tabacco proposes for the 1st time that the will be understood as a common oligopoly, every one airline marketplace being ruled through one to 3 airline companies despite industry measurement. the writer questions the level to which airways intentionally hinder head-to-head festival inside urban pair markets, and attracts fascinating conclusions approximately aggressive forces from the saw marketplace constitution. Uncovering the various major company innovations of the airline undefined, the ebook is of quick relevance to managers and practitioners, in addition to educational economists.
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Extra info for Airline Economics: An Empirical Analysis of Market Structure and Competition in the US Airline Industry
A fragmentation result is predicted also for horizontally differentiated industries with single-product ﬁrms and simultaneous entry (Shaked and Sutton 1990), thereby contrasting with our ﬁnding. Models with either competition on a line, Hotelling (1929), D’Aspremont et al. (1979), or on a circle, Salop (1979) are not appropriate for two reasons: (1) the airline industry is multi-product and, more importantly, (2) because a larger market size leaves room for a greater number of ﬁrms to enter in the market, and therefore concentration would 2 AIRLINE CITY PAIR MARKETS AS NATURAL OLIGOPOLIES 27 be low, which here clearly it is not, at least for the dominant airline carriers.
Journal of Economic Theory, 22, 327–338. Hotelling, H. (1929). Stability in competition. Economic Journal, 39, 41–57. Lederman, M. (2007). Do enhancements to loyalty programs affect demand? The impact of international frequent ﬂyer partnerships on domestic airline demand. RAND Journal of Economics, 38, 1134–1158. Lederman, M. (2008). Are frequent ﬂyer programs a cause of the hub premium? Journal of Economics and Management Strategy, 17, 35–66. Levine, M. (1987). Airline competition in deregulated markets: Theory, ﬁrm strategy and public policy.
As stressed in the opening chapter of this research monograph, through studying a speciﬁc industry’s market structure we can draw inferences about its underlying competitive process. This is not just of academic interest; it also bears substantial relevance for the conduct of antitrust policy. The objective of this chapter is as follows. A. 1007/978-3-319-46729-0_3 35 36 AIRLINE ECONOMICS cross-section sample of 661 city pair markets. The reason for making a separate analysis of the number of ﬁrms and the level of market shares asymmetries is that both of these phenomena may uncover information on the underlying competitive process which would have remained hidden when considering only ﬁrm numbers.