To say that the price of some good is inflexible over time has little meaning if the "good" is changing over time. In this article, I concentrate on delivery lags as the only dimension other than price that varies. It is shown how one can predict the relative importance of price and delivery lag...

This paper provides a methodology to analyze the potential benefits and costs of airline mergers. The methodology is applied to the recent merger between North Central Airlines and Southern Airways -- the superior product created by a merger which increases the amount of single-carrier versus...