This paper offers a simple approach for identifying propagated departure delays and measuring their contribution to arrival delays. Under our approach, a propagated departure delay occurs when the arrival delay of the inbound flight exceeds the subsequent flight’s ground buffer. The size (or...

Climate policies vary widely across countries, with some countries imposing stringent emissions policies and others doing very little. When climate policies vary across countries, energy-intensive industries have an incentive to relocate to places with few or no emissions restrictions, an effect...

The paper discusses the effects of the corporate tax on local R&D expenditures by multinational enterprises (MNEs) when income from intellectual property (IP) may or may not benefit from a special IP regime. Our model shows that an increase of the standard corporate tax may have positive effects...

We show that the main claim in Dennis, Gerardi, and Schenone (JF forthcoming) (DGS), namely “that the documented positive correlation between common ownership and ticket prices stems from the market share component of the common ownership measure, and not the ownership and control...

We investigate whether legacy U.S. airlines communicated via earnings calls to coordinate with other legacy airlines in offering fewer seats on competitive routes. To this end, we first use text analytics to build a novel dataset on communication among airlines about their capacity choices....

Decisions under risk are often multidimensional, where the preferences of the decision maker depend on several attributes. For example, an individual might be concerned about both her level of wealth and the condition of her health. Many times the signs of successive cross derivatives of a...