A study of the option pricing method in the agency problem between airlines and travel agents

被引：1
|
作者：
Tsai, HT
Lin, CG
Huang, L [1 ]
机构：
[1] Natl Kaohsiung Hospitality Coll, Dept Travel Management, Kaohsiung, Taiwan
[2] Natl Sun Yat Sen Univ, Dept Business Management, Kaohsiung 80424, Taiwan
[3] Soochow Univ, Dept Business Math, Taipei, Taiwan
来源：
JOURNAL OF AIR TRANSPORT MANAGEMENT | 2004年 / 10卷 / 02期
关键词：
option pricing method; airlines; agency cost; travel industry;
D O I：
10.1016/j.jairtraman.2003.09.003
中图分类号：
U [交通运输];
学科分类号：
08 ; 0823 ;
摘要：
The option pricing method is used to analyze the agency problem between airlines and travel agencies. An Airline Agency Option Pricing model is employed whereby different ticket price processes, the quantity targets of tickets sold, the correlation between the ticket price and ticket quantity, and various incentive programs affect the agency costs between airlines and travel agencies. it is found that airlines should cautiously design their incentive programs to mitigate the impact caused by the agency problem that could influence the operations of travel-related suppliers. (C) 2003 Elsevier Ltd. All rights reserved.
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页码：151 / 160
页数：10
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