This paper presents a theoretical and empirical analysis of the relationship between frequency of scheduled transportation services and their substitutability with personal transportation, using distance as a proxy. We study the interaction between a monopoly fi rm providing a high-speed...

This paper explores, both theoretically and empirically, the impact of granting antitrust immunity (ATI) to airline alliances in a novel and realistic framework characterized by vertically-differentiated air services. Our theoretical model suggests that non-ATI alliances produce an up-market...