We estimate a model of service choice and price competition in airline markets, allowing for the carriers that provide … structure and to show how accounting for selection can change predictions about post-merger market power and repositioning, in … ways that are consistent with what has been observed after actual mergers, and possible merger remedies …

that airlines in financial distress, particularly those operating under Chapter 11 bankruptcy protection, reduce prices to … and their rivals. The data suggest that an airline's prices typically decline somewhat before it files for bankruptcy …. The turmoil in the U.S. airline industry has triggered much of the public policy discussion, as some observers have argued …

recognizing that competing airlines may increase service in response to a reduction in flights by a bankrupt airline. We do not …The airline industry's current financial crisis has raised concerns over the ramifications of airline bankruptcies for … healthy airlines are inclined to reduce flights. Moreover, from a consumer and policy perspective, the real concern is total …

insurance regulatory bodies in charge of the liquidation process turn over an average of only 33 cents for each $1.00 of pre-insolvency …

In many countries, bankruptcy is associated with low recovery by creditors. We develop a model of corporate credit … insolvent firms happens out of court if in-court bankruptcy is inefficient, giving banks an advantage over bondholders. Riskier … borrowers will use bank loans anywhere, but also bonds when bankruptcy is efficient. The model matches empirical debt mix …

channel in which a firm's bankruptcy reduces collateral values of other industry participants, thereby increasing the cost of … issued by U.S. airlines which includes a detailed description of the underlying assets serving as collateral. Our estimates …

The U.S. airline industry went through tremendous turmoil in the early 2000's. There were four major bankruptcies and … the airline industry, and estimates the impact of demand and supply changes on profitability. We find that, compared with …