Price Dispersion Over the Business Cycle: Evidence from the Airline Industry

被引：12

作者：

Cornia, Marco ^{[1
]}

Gerardi, Kristopher S. ^{[2
]}

Shapiro, Adam Hale ^{[3
]}

机构：

[1] Johns Hopkins Univ, Baltimore, MD 21218 USA

[2] Fed Reserve Bank Atlanta, Atlanta, GA USA

[3] Fed Reserve Bank San Francisco, San Francisco, CA USA

来源：

JOURNAL OF INDUSTRIAL ECONOMICS | 2012年 / 60卷 / 03期

关键词：

MARKET-STRUCTURE; CAPITAL-MARKET; DISCRIMINATION; COMPETITION; DEMAND; MONOPOLY; IMPERFECTIONS; INFORMATION; COSTS; MODEL;

D O I：

10.1111/j.1467-6451.2012.00488.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study provides empirical evidence documenting how price dispersion moves with the business cycle in the airline industry. Performing a fixed-effects panel analysis on seventeen years of data covering two business cycles, we find that price dispersion is highly pro-cyclical. This effect is especially pronounced for legacy carriers relative to low-cost carriers. We show that our empirical result is consistent with firms' implementing second-degree price-discrimination tactics.

引用

页码：347 / 373

页数：27

共 39 条

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