{"title":"解除管制的航空市场中的公司间竞争和公司特有的价格弹性。","authors":"T. Oum, A. Zhang, Yiming Zhang","doi":"10.4324/9780203985359-24","DOIUrl":null,"url":null,"abstract":"Since deregulation in 1978 the US airline industry has undergone major structural changes. A series of mergers and hub-and-spoke network development have increased market concentration at major airports as well as at industry level. The industry is still being consolidated. Analysts express concern regarding the increasing market power of a few airlines, especially in route markets connected to major hub airports. There is clear evidence that major US airlines attempt to solidify their market power by intensif ying hub and-spoke networks, offering commission overrides to travel agents (a system that rewards agents for directing a high proportion of their business to an airline), using skilful dynamic pricing and seat allocation techniques (scientific yield management) and frequent-flyer bonus programmes for rewarding brand-loyal customers. A large number of routes are served by three or fewer airlines, indicating that a small numbers oligopoly is the dominant market structure in the industry, particularly on the routes directly connected to major hubs. Furthermore, recent evidence shows that dominant airlines at hub airports have sustained higher average fares for the local traffic than their competitors (see Borenstein,1989, 1990; and Berry, 1992). This suggests the importance of understanding competitive interaction among airlines in order to explain their pricing behaviour and price differentials between airlines serving the same route markets.","PeriodicalId":47475,"journal":{"name":"Journal of Transport Economics and Policy","volume":null,"pages":null},"PeriodicalIF":0.9000,"publicationDate":"1993-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"205","resultStr":"{\"title\":\"INTER-FIRM RIVALRY AND FIRM-SPECIFIC PRICE ELASTICITIES IN DEREGULATED AIRLINE MARKETS.\",\"authors\":\"T. Oum, A. Zhang, Yiming Zhang\",\"doi\":\"10.4324/9780203985359-24\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Since deregulation in 1978 the US airline industry has undergone major structural changes. A series of mergers and hub-and-spoke network development have increased market concentration at major airports as well as at industry level. The industry is still being consolidated. Analysts express concern regarding the increasing market power of a few airlines, especially in route markets connected to major hub airports. There is clear evidence that major US airlines attempt to solidify their market power by intensif ying hub and-spoke networks, offering commission overrides to travel agents (a system that rewards agents for directing a high proportion of their business to an airline), using skilful dynamic pricing and seat allocation techniques (scientific yield management) and frequent-flyer bonus programmes for rewarding brand-loyal customers. A large number of routes are served by three or fewer airlines, indicating that a small numbers oligopoly is the dominant market structure in the industry, particularly on the routes directly connected to major hubs. Furthermore, recent evidence shows that dominant airlines at hub airports have sustained higher average fares for the local traffic than their competitors (see Borenstein,1989, 1990; and Berry, 1992). This suggests the importance of understanding competitive interaction among airlines in order to explain their pricing behaviour and price differentials between airlines serving the same route markets.\",\"PeriodicalId\":47475,\"journal\":{\"name\":\"Journal of Transport Economics and Policy\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.9000,\"publicationDate\":\"1993-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"205\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Transport Economics and Policy\",\"FirstCategoryId\":\"5\",\"ListUrlMain\":\"https://doi.org/10.4324/9780203985359-24\",\"RegionNum\":4,\"RegionCategory\":\"工程技术\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Transport Economics and Policy","FirstCategoryId":"5","ListUrlMain":"https://doi.org/10.4324/9780203985359-24","RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
INTER-FIRM RIVALRY AND FIRM-SPECIFIC PRICE ELASTICITIES IN DEREGULATED AIRLINE MARKETS.
Since deregulation in 1978 the US airline industry has undergone major structural changes. A series of mergers and hub-and-spoke network development have increased market concentration at major airports as well as at industry level. The industry is still being consolidated. Analysts express concern regarding the increasing market power of a few airlines, especially in route markets connected to major hub airports. There is clear evidence that major US airlines attempt to solidify their market power by intensif ying hub and-spoke networks, offering commission overrides to travel agents (a system that rewards agents for directing a high proportion of their business to an airline), using skilful dynamic pricing and seat allocation techniques (scientific yield management) and frequent-flyer bonus programmes for rewarding brand-loyal customers. A large number of routes are served by three or fewer airlines, indicating that a small numbers oligopoly is the dominant market structure in the industry, particularly on the routes directly connected to major hubs. Furthermore, recent evidence shows that dominant airlines at hub airports have sustained higher average fares for the local traffic than their competitors (see Borenstein,1989, 1990; and Berry, 1992). This suggests the importance of understanding competitive interaction among airlines in order to explain their pricing behaviour and price differentials between airlines serving the same route markets.
期刊介绍:
The Journal of Transport, Economics and Policy (JTEP) was first published over 40 years ago and quickly established itself as an essential source of information and debate on the economics of transport and its interface with transport policy. Today it continues to provide a much-needed focus for this specific area of transport research a single, accessible resource of international articles which also reflect the diverse nature of the current field. JTEP meets the challenge of innovation and change, regularly publishing the latest policy developments and their impact across the world.