We study the high-speed rail (HSR) substitution for air travel through the demand shocks triggered by two HSR events: the launch of Beijing-Shanghai high-speed rails (the “Jing-hu” HSRs) and the Wenzhou train accident. One novelty of our data is that the HSR events are exogenous to the...

COVID-19 has caused substantial disruptions to the airline industry. This paper analyzes the effects of competition variations related to the pandemic on price dispersion. The sample includes ticket information from the DB1B database between 2018Q1 and 2021Q4. The fixed-effect panel instrument...