Aguirregabiria, Victor; Ho, Chun-Yu - In: Journal of Econometrics 168 (2012) 1, pp. 156-173
This paper studies the contribution of demand, costs, and strategic factors to the adoption of hub-and-spoke networks in the US airline industry. Our results are based on the estimation of a dynamic game of network competition using data from the Airline Origin and Destination Survey with...