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Dynamic Price Competition : Theory and Evidence from Airline Markets
Hortaçsu, Ali; Oery, Aniko; Williams, Kevin R. - National Bureau of Economic Research - 2022
We introduce a model of oligopoly dynamic pricing where firms with limited capacity face a sales deadline. We establish … comprehensive pricing and bookings data for competing U.S. airlines, we estimate our model and find that dynamic pricing results in … results in single-firm settings due to the strategic role of competitor scarcity. Pricing heuristics commonly used by airlines …
Persistent link: https://www.econbiz.de/10013362001
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Discrete-Choice Models and Representative Consumer Theory
Dubé, Jean-Pierre H.; Joo, Joonhwi; Kim, Kyeongbae - National Bureau of Economic Research - 2022
We establish the Hurwicz-Uzawa integrability of the broad class of discrete-choice additive random-utility models of individual consumer behavior with perfect substitutes preferences and divisible goods. We derive the corresponding indirect uility function and then establish a representative...
Persistent link: https://www.econbiz.de/10013334349
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Who Benefits From The Export-Import Bank Aid?
Benmelech, Efraim; Monteiro, Joao - National Bureau of Economic Research - 2023
constrained airlines or by airlines operating in countries with underdeveloped financial systems. We show that airlines in …
Persistent link: https://www.econbiz.de/10014337795
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Trade-ins and Transaction Costs in the Market for Used Business Jets
Hodgson, Charles - National Bureau of Economic Research - 2022
Manufacturers of durable goods can encourage consumers facing transaction costs to upgrade by accepting used units as trade-ins. These "buyback schemes" increase demand for new units, but increase the supply of used units if trade-ins are resold. In this paper, I investigate the equilibrium...
Persistent link: https://www.econbiz.de/10013388853
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Network Competition in the Airline Industry : An Empirical Framework
Yuan, Zhe; Barwick, Panle Jia - National Bureau of Economic Research - 2024
literature to introduce an empirical framework for analyzing network competition among airlines. Airlines make market entry …-preference argument, and employs a state-of-the-art econometric method to conduct inference for entry cost parameters. Ignoring network … externality underestimates the benefits of operating an additional flight by 13.2%, and airlines would schedule 21.53% fewer one …
Persistent link: https://www.econbiz.de/10015056219
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An Economic View of Corporate Social Impact
Allcott, Hunt; Montanari, Giovanni; Ozaltun, Bora; Tan, … - National Bureau of Economic Research - 2023
The growing discussions of impact investing and stakeholder capitalism have increased interest in measuring companies' social impact. We conceptualize corporate social impact as the welfare loss that would be caused by a firm's exit. To illustrate, we quantify the social impacts of 74 firms in...
Persistent link: https://www.econbiz.de/10014421228
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Adverse Selection and (un)Natural Monopoly in Insurance Markets
Kong, Edward; Layton, Timothy; Shepard, Mark - National Bureau of Economic Research - 2024
Adverse selection is a classic market failure known to limit or "unravel"' trade in high-quality insurance and many other economic settings. While the standard theory emphasizes quality distortions, we argue that selection has another big-picture implication: it unravels competition among...
Persistent link: https://www.econbiz.de/10015145138
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Antitrust Enforcement Increases Economic Activity
Babina, Tania; Barkai, Simcha; Jeffers, Jessica; … - National Bureau of Economic Research - 2023
We hand-collect and standardize information describing all 3,055 antitrust lawsuits brought by the Department of Justice (DOJ) between 1971 and 2018. Using restricted establishment-level microdata from the U.S. Census, we compare the economic outcomes of a non-tradable industry in states...
Persistent link: https://www.econbiz.de/10014337831
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The Political Economy of the Decline of Antitrust Enforcement in the United States
Lancieri, Filippo Maria; Posner, Eric A.; Zingales, Luigi - National Bureau of Economic Research - 2022
Antitrust enforcement in the United States has declined since the 1960s. Building on several new datasets, we argue that this decline did not reflect a popular demand for weaker enforcement or any other kind of democratic sanction. The decline was engineered by unelected regulators and judges...
Persistent link: https://www.econbiz.de/10013361981
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Optimal Income Taxation
Kaplow, Louis - National Bureau of Economic Research - 2022
This article explores subjects in optimal income taxation characterized by recent research interest, practical importance in light of concerns about inequality, potential for misunderstanding, and prospects for advancement. Throughout, the analysis highlights paths for further investigation....
Persistent link: https://www.econbiz.de/10013334417