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Airline pricing is a topic that attracts widespread academic and public interest. The ten papers collected in this volume each offer valuable insights into this complex field, either by directly analysing pricing practices, or by exploring topics that have clear implications on how airlines set fares. Altogether, they offer a multifaceted view of an industry shaped by constant change and intense competitive pressures. The past twenty five years have seen unprecedented consolidation of legacy carriers, as well as the growth of low-cost carriers. A wave of mergers among legacy carriers have reshaped the competitive landscape, whilst low-cost carriers have continued to expand their market presence by challenging traditional pricing models. Joint venture agreements and partnerships with regional carriers have impacted fares. Courts have also undone a joint venture agreement. These structural shifts have influenced everything from the existence of a hub premium to revenue management strategies to route decisions, ancillary fee structures, and consumer expectations. By examining these developments from a range of analytical perspectives, this volume highlights the enduring complexities of airline pricing and the evolving forces that continue to shape it.
Nicholas G. Rupp is Professor of Economics at East Carolina University and has been working at ECU since 2001. He obtained his Ph.D. in Economics from Texas A&M University in 2000. Dr. Rupp is an active researcher in the area of Industrial Organization focusing on various issues related to the airline industry. Dr. Rupp’s airline research has included airline product quality offerings in response to competition and mergers, airline pricing, service quality including flight delays and cancellations, and airlines resume flight operations following airport closures.
Chapter 1. Introduction and Overview; Nicholas G. Rupp
Chapter 2. The Determinants of Airline Fares; Marco Alderighi, Alberto A. Gaggero, and Alexander Luttmann
Chapter 3. What Happened to the “Hub Premium”?; Darin Lee
Chapter 4. Dynamic Airline Bundle Pricing: The Southwest Evidence; Claudio A. Piga, Federico Mij, and Patrice Bougette
Chapter 5. Laboratories of Regulation: The Cost of Complex State and Local Regulation on Airfares; Ethan Singer and Erin Secatore
Chapter 6. Do Shared Marketing And Operations Within Joint Ventures Have Differential Impacts On Airline Pricing?; Hong Lee, Jaehak Lee, Jeffrey T. Prince, and Daniel H. Simon
Chapter 7. Untying the Knot: The Competitive Impact Of Undoing The Northeast Alliance; Nicholas G. Rupp and Kerry M. Tan
Chapter 8. When Major Airlines Share A Regional Partner: Impact on Price Dispersion; Minhae Kim, Myongjin Kim, and Yeonjoon Lee
Chapter 9. The Price of Punctuality: Schedule Padding and its Effect on Domestic Airfares in the U.S. Airline Industry; Jules Yimga
Chapter 10. Estimating The Value Of Layover Time For International Passengers: A Hedonic Pricing Approach; Alexander Luttmann
Chapter 11. Aircraft Ownership Dynamics: Patterns Of Duration And Transition In U.S. Commercial Aviation; Federico Ciliberto and Olivia Richine