多市场联系和对美国航空公司盈利能力的影响

IF 0.9 4区经济学 Q3 ECONOMICS

Review of Network Economics Pub Date : 2021-12-01 DOI:10.1515/rne-2022-0031

Jules O. Yimga

{"title":"多市场联系和对美国航空公司盈利能力的影响","authors":"Jules O. Yimga","doi":"10.1515/rne-2022-0031","DOIUrl":null,"url":null,"abstract":"Abstract Routine industrial analyses use internal market characteristics such as market shares to proxy for market power. However, recent studies argue that factors that are external to the market such as contact across multiple markets can be linked to tacit collusion. Using a structural demand and supply model for air travel, we quantify the variable profit effects of multimarket contact. We find that multimarket contact results in increases in variable profits ranging between $15,000 and $20,000 per contact in a quarter. Extrapolating this estimate across all contacts proves to be quite sizeable. These positive responses in profitability are especially stronger in less competitive markets. Our results, taken together, lend support to the mutual forbearance hypothesis.","PeriodicalId":45659,"journal":{"name":"Review of Network Economics","volume":"76 1","pages":"213 - 230"},"PeriodicalIF":0.9000,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Multimarket Contact and Profitability Implications for US Airlines\",\"authors\":\"Jules O. Yimga\",\"doi\":\"10.1515/rne-2022-0031\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Abstract Routine industrial analyses use internal market characteristics such as market shares to proxy for market power. However, recent studies argue that factors that are external to the market such as contact across multiple markets can be linked to tacit collusion. Using a structural demand and supply model for air travel, we quantify the variable profit effects of multimarket contact. We find that multimarket contact results in increases in variable profits ranging between $15,000 and $20,000 per contact in a quarter. Extrapolating this estimate across all contacts proves to be quite sizeable. These positive responses in profitability are especially stronger in less competitive markets. Our results, taken together, lend support to the mutual forbearance hypothesis.\",\"PeriodicalId\":45659,\"journal\":{\"name\":\"Review of Network Economics\",\"volume\":\"76 1\",\"pages\":\"213 - 230\"},\"PeriodicalIF\":0.9000,\"publicationDate\":\"2021-12-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Review of Network Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1515/rne-2022-0031\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of Network Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1515/rne-2022-0031","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 0

摘要

常规的行业分析使用市场份额等内部市场特征来代表市场力量。然而，最近的研究认为，市场外部的因素，如跨多个市场的接触，可能与隐性勾结有关。利用航空旅行的结构性需求和供给模型，我们量化了多市场联系的可变利润效应。我们发现，在一个季度内，多市场接触导致每次接触的可变利润增加在1.5万至2万美元之间。将这一估计值外推到所有接触者身上证明是相当可观的。在竞争不那么激烈的市场中，盈利能力方面的积极反应尤其强烈。我们的研究结果加在一起，为相互容忍假说提供了支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Multimarket Contact and Profitability Implications for US Airlines

Abstract Routine industrial analyses use internal market characteristics such as market shares to proxy for market power. However, recent studies argue that factors that are external to the market such as contact across multiple markets can be linked to tacit collusion. Using a structural demand and supply model for air travel, we quantify the variable profit effects of multimarket contact. We find that multimarket contact results in increases in variable profits ranging between $15,000 and $20,000 per contact in a quarter. Extrapolating this estimate across all contacts proves to be quite sizeable. These positive responses in profitability are especially stronger in less competitive markets. Our results, taken together, lend support to the mutual forbearance hypothesis.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Review of Network Economics ECONOMICS-

CiteScore

0.90

自引率

0.00%

发文量

期刊介绍： The Review of Network Economics seeks to help policy makers, academics, and practitioners keep informed of new research and policy debate in network economics and related subjects that are relevant to the study of network industries. By publishing high quality research on topical issues relevant to network industries, it is hoped readers will be able to gain a deeper understanding of the economic issues involved and that this will improve the quality of decision making by private and public organisations, and debate among researchers. The articles can cover specific network industries, or may deal with general issues that have relevance to a number of different network industries, including topics in the economics of networks, regulation, competition law, or industrial organisation. Papers that provide insights into policy debates are especially welcome, as are up-to-date surveys, book reviews, and comments.