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Product Unbundling in the Travel Industry: The Economics of Airline Bag Fees

Brueckner, Jan K.; Lee, Darin N.; Picard, Pierre M.; … - CESifo - 2013

unbundling. The theory predicts that an airline’s fares should fall when it introduces a bag fee, but that the full trip price …

Persistent link: https://www.econbiz.de/10010877747

Measuring Strategic Firm Interaction in Product-Quality Choices: The Case of Airline Flight Frequency

Brueckner, Jan K.; Luo, Dan - CESifo - 2013

This paper investigates strategic interaction among airlines in product-quality choices. Using an instrumental … variables approach, the paper estimates flight-frequency reaction functions, which relate an airline’s frequency on a route to … its own characteristics and to the frequencies of competing airlines. A positive reaction function slope is found in some …

Persistent link: https://www.econbiz.de/10010877953

Carve-Outs under Airline Antitrust Immunity

Brueckner, Jan K.; Proost, Stef - CESifo - 2009

This paper offers the first formal economic analysis of carve-outs under airline antitrust im- munity. Carve-outs are designed to limit the potential anticompetitive effects of cooperation by alliance partners in hub-to-hub markets, where they provide overlapping nonstop service. While the paper...

Persistent link: https://www.econbiz.de/10008533998

Airline Emission Charges: Effects on Airfares, Service Quality, and Aircraft Design

Brueckner, Jan K.; Zhang, Anming - CESifo - 2009

features, and network structure, using a detailed and realistic theoretical model of competing duopoly airlines. These impacts …

Persistent link: https://www.econbiz.de/10005094276

European Airline Mergers, Alliance Consolidation, and Consumer Welfare

Brueckner, Jan K.; Pels, Eric - CESifo - 2004

-KLM and SkyTeam alliances into a single mega-alliance. The results of the analysis show that, although the airlines benefit …

Persistent link: https://www.econbiz.de/10005196317

Term Structure and Cyclicity of Value-at-Risk: Consequences for the Solvency Capital Requirement

Bec, Frédérique; Gollier, Christian - CESifo - 2009

This paper explores empirically the link between French equities returns Value-at-Risk (VaR) and the state of financial markets cycle. The econometric analysis is based on a simple vector autoregression setup. Using quarterly data from 1970Q4 to 2008Q3, it turns out that the k-year VaR of French...

Persistent link: https://www.econbiz.de/10005051507

Ranking of VaR and ES Models: Performance in Developed and Emerging Markets

Zikovic, Sasa; Filer, Randall - CESifo - 2012

An inherent problem with comparing and ranking competing Value at Risk (VaR) and Expected shortfall (ES) models is that they measure only a single realization of the underlying data generation process. The question is whether there is any significant statistical difference in the performance of...

Persistent link: https://www.econbiz.de/10010586077

Hybrid Historical Simulation VaR and ES: Performance in Developed and Emerging Markets

Zikovic, Sasa; Filer, Randall - CESifo - 2009

We introduce a new hybrid approach to joint estimation of Value at Risk (VaR) and Expected Shortfall (ES) for high quantiles of return distributions. We investigate the relative performance of VaR and ES models using daily returns for sixteen stock market indices (eight from developed and eight...

Persistent link: https://www.econbiz.de/10008572519