In our model of the deregulated airline industry, consumers care not only about price but also about service convenience, measured by system coverage and connection. We find that the service-enhancing effects of employing large-scale hub-and-spoke networks have outweighed the price-increasing...

This paper extends a simple economic model of the regulated firm to include a wider range of both management objectives and of regulatory constraint. The authors find that these generalizations in the assumptions are able to effect profound alterations in the conclusions. For example, if a firm...

Public Regulation studies the formation of institutions and government policies that regulate industry, offering new data, new contexts, and new tools for analyzing the structure and performance of regulatory activity. It addresses both how these institutions and policies came into being and how...

Economic analysis of human capital leads to a somewhat different question than that addressed by other management research on external succession: do differences between external successors in the transferability of their human capital affect firm performance, and if so, how? By comparing...

This paper examines the pattern of peak and offpeak prices for several models of firm behavior beyond the standard welfare-maximizing models of Boiteux, Steiner, and Williamson. In the case where there is a profit objective or a breakeven constraint, we show that it can be rational for the firm...

Airline deregulation has been a symbol of the trend toward less expansive government over the past quarter century. The move from economic regulation to deregulation has delivered on its efficiency promises. There have been significant benefits to consumers in terms of lower prices and more...