By Giovanni Alberto Tabacco
This ebook offers an unique empirical research of the industry constitution of airline urban pair markets, laying off new gentle at the workings of aggressive techniques among agencies. reading a cross-section folks airline urban pairs, Tabacco proposes for the 1st time that the may be understood as a traditional oligopoly, each one airline marketplace being ruled by way of one to 3 airline vendors despite marketplace dimension. the writer questions the level to which airways intentionally hinder head-to-head pageant inside of urban pair markets, and attracts fascinating conclusions approximately aggressive forces from the saw industry constitution. Uncovering a number of the major company thoughts of the airline undefined, the ebook is of speedy relevance to managers and practitioners, in addition to educational economists.
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Additional resources for Airline Economics: An Empirical Analysis of Market Structure and Competition in the US Airline Industry
The results and analysis in this chapter appear then to be reinforced by the recent mega-mergers. 2 AIRLINE CITY PAIR MARKETS AS NATURAL OLIGOPOLIES 29 Moreover, it is worthwhile recalling that the natural oligopoly result underlies that competition among airlines takes place not just on price but also on quality dimensions. 5 CONCLUSION In this chapter we present empirical evidence of the market size–market structure relationship. The conclusion is as follows. Using the full set of airline carriers, I ﬁnd that, irrespective of market size, the number of dominant ﬁrms ranges between one and three, suggesting that the structure of airline city pair markets mirrors a natural oligopoly.
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Sect. 2 reviews the related literature. Sect. 3 introduces deﬁnitions of variables used in the econometric analysis. Sect. 4 provides a formal empirical analysis of ﬁrm numbers and market share asymmetry. Sect. 5 discusses main results. Finally, Sect. 6 concludes. 2 RELATED LITERATURE A parallel strand of literature to which this chapter is related considers empirical models of market structure based on speciﬁc oligopoly theories tailored to the particular industry being studied. Recent 3 MARKET SIZE, FIRM NUMBERS AND MARKET SHARE ASYMMETRY 37 researchers have considered a wide range of sectors, including the following: the video rental industry (Seim 2006), health care professions in Belgium (Schaumans and Verboven 2008), supermarkets (Cleeren et al.
Airline Economics: An Empirical Analysis of Market Structure and Competition in the US Airline Industry by Giovanni Alberto Tabacco