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Airline Schedule Buffers and Flight Delays : A Discrete Model

Czerny, Achim I. - 2020

This paper revisits the airline schedule-buffer choice problem analyzed by Brueckner, Czerny and Gaggero (2020) using a simpler model where the random shocks influencing flight times are discrete rather than continuous. The analysis yields closed-form solutions for the flight and ground buffers...

Persistent link: https://www.econbiz.de/10012823555

Airline Mitigation of Propagated Delays : Theory and Empirics on the Choice of Schedule Buffers

Brueckner, Jan K. - 2019

This paper presents an extensive theoretical and empirical analysis of the choice of schedule buffers by airlines. With airline delays a continuing problem around the world, such an under-taking is valuable, and its lessons extend to other passenger transportation sectors. One useful lesson from...

Persistent link: https://www.econbiz.de/10012861390

Prices, Schedules, and Passenger Welfare in Multi-Service Transportation Systems

de Villemeur, Etienne Billette - 2019

We consider a multi-service transportation system in which passengers are heterogeneous along two dimensions, namely ideal departure time and value of time, leading to both horizontal and vertical differentiation. We investigate the behavior of passengers, and assess how service pricing and...

Persistent link: https://www.econbiz.de/10012861431

A Comparison of Regret Theory and Salience Theory for Decisions under Risk

Herweg, Fabian - 2020

Two non-transitive theories to model decision making under risk are regret theory (Loomes and Sugden, 1982, 1987) and … salience theory (Bordalo, Gennaioli, and Shleifer, 2012). While the psychological underpinning of these two approaches is … of choice behavior. We investigate the overlap between these theories and show that original regret theory (Loomes and …

Persistent link: https://www.econbiz.de/10012850081

Cognitive Uncertainty

Enke, Benjamin - 2019

This paper introduces a formal definition and an experimental measurement of the concept of cognitive uncertainty: people's subjective uncertainty about what the optimal action is. This concept allows us to bring together and partially explain a set of behavioral anomalies identified across four...

Persistent link: https://www.econbiz.de/10012857912

Asymmetries in Risk Premia, Macroeconomic Uncertainty and Business Cycles

Görtz, Christoph - 2019

A large literature suggests that the expected equity risk premium is countercyclical. Using a variety of different measures for this risk premium, we document that it also exhibits growth asymmetry, i.e. the risk premium rises sharply in recessions and declines much more gradually during the...

Persistent link: https://www.econbiz.de/10012858207

Investment Responses to Tax Policy Under Uncertainty

Guceri, Irem - 2019

How does economic uncertainty affect the impact of tax policy? We exploit a natural experiment in which two very similar investment subsidies were implemented in the same country, two years apart: once during a period of economic stability, and once during a period of very high uncertainty....

Persistent link: https://www.econbiz.de/10012859606

Testing the Dismal Theorem

Anthoff, David; Tol, Richard S.J - 2021

Weitzman's Dismal Theorem has that the expected net present value of a stock problem with a stochastic growth rate with unknown variance is unbounded. Cost-benefit analysis can therefore not be applied to greenhouse gas emission control. We use the Generalized Central Limit Theorem to show that...

Persistent link: https://www.econbiz.de/10013239336

The Impact of Aggregate Uncertainty on Firm-Level Uncertainty

Easaw, Joshy; Grimme, Christian - 2021

We analyse the extent to which firm-level uncertainty is affected by aggregate uncertainty. Firm-level uncertainty is constructed from a large and monthly panel dataset of manufacturing firms. We find that aggregate uncertainty has a positive and robust impact on firm-level uncertainty. This...

Persistent link: https://www.econbiz.de/10013239562

Disastrous Discretion : Ambiguous Decision Situations Foster Political Favoritism

Schneider, Stephan A.; Kunze, Sven - 2022

Allocation decisions are vulnerable to political influence, but it is unclear in which situations politicians use their discretionary power in a partisan manner. We analyze the allocation of presidential disaster declarations in the United States, exploiting the spatiotemporal randomness of...

Persistent link: https://www.econbiz.de/10013291703

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