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Comparative Static Properties of Regulated Airline Oligopolies

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  • Richard Schmalensee

Abstract

Airline regulation is assumed to fix fares and the number of competitors. Noncooperative schedule determination in a single regulated market served by a small number of carriers is analyzed. Comparative static effects of changes in cost and demand conditions, regulated fares, and numbers of carriers on rates of return, load factors, flight frequency, and excess profits are considered. The signs of important effects are either definite or depend simply on one or two observable magnitudes. Interpretations of the results are presented, and some implications for regulatory policy and future research are discussed.

Suggested Citation

  • Richard Schmalensee, 1977. "Comparative Static Properties of Regulated Airline Oligopolies," Bell Journal of Economics, The RAND Corporation, vol. 8(2), pages 565-576, Autumn.
    • Handle: RePEc:rje:bellje:v:8:y:1977:i:autumn:p:565-576
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    Cited by:

    1. Martin Gaynor, "undated". "What Do We Know About Competition and Quality in Health Care Markets?," GSIA Working Papers 2006-E62, Carnegie Mellon University, Tepper School of Business.
    2. Martin Gaynor & Rodrigo Moreno-Serra & Carol Propper, 2013. "Death by Market Power: Reform, Competition, and Patient Outcomes in the National Health Service," American Economic Journal: Economic Policy, American Economic Association, vol. 5(4), pages 134-166, November.
    3. Martin Gaynor & Kate Ho & Robert J. Town, 2015. "The Industrial Organization of Health-Care Markets," Journal of Economic Literature, American Economic Association, vol. 53(2), pages 235-284, June.
    4. Daniel Kessler & Mark McClellan, 1999. "Designing Hospital Antitrust Policy to Promote Social Welfare," NBER Chapters, in: Frontiers in Health Policy Research, volume 2, pages 53-76, National Bureau of Economic Research, Inc.
    5. Batarce, Marco, 2016. "Estimation of urban bus transit marginal cost without cost data," Transportation Research Part B: Methodological, Elsevier, vol. 90(C), pages 241-262.
    6. Mougeot, Michel & Naegelen, Florence, 2005. "Hospital price regulation and expenditure cap policy," Journal of Health Economics, Elsevier, vol. 24(1), pages 55-72, January.
    7. Martin Gaynor & Paul Gertler, 1990. "Moral Hazard in Partnerships," NBER Working Papers 3373, National Bureau of Economic Research, Inc.
    8. Ristić, Bojan & Stojadinović, Nikola & Trifunović, Dejan, 2022. "Conditions for effective on-track competition in the European passenger railway market: A yardstick for regulations," Transport Policy, Elsevier, vol. 119(C), pages 1-15.
    9. Carlsson , Fredrik, 2000. "Environmental Taxation in Airline Markets," Working Papers in Economics 24, University of Gothenburg, Department of Economics.
    10. Daniel P. Kessler & Mark B. McClellan, 1999. "Is Hospital Competition Socially Wasteful?," NBER Working Papers 7266, National Bureau of Economic Research, Inc.
    11. Daniel Kessler & Mark McClellan, 1999. "Designing Hospital Antitrust Policy to Promote Social Welfare," NBER Working Papers 6897, National Bureau of Economic Research, Inc.
    12. Mougeot, Michel & Naegelen, Florence, 2018. "Achieving a fair geographical distribution of health-care resources," Regional Science and Urban Economics, Elsevier, vol. 70(C), pages 384-392.
    13. Paul J. Gertler & Donald M. Waldman, 1990. "Quality Adjusted Cost Functions," NBER Working Papers 3567, National Bureau of Economic Research, Inc.
    14. Rhee, Byong-Duk, et al, 1992. "Restoring the Principle of Minimum Differentiation in Product Positioning," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(3), pages 475-505, Fall.
    15. Gabor Molnar & Scott J. Savage, 2017. "Market Structure and Broadband Internet Quality," Journal of Industrial Economics, Wiley Blackwell, vol. 65(1), pages 73-104, March.
    16. William P. Rogerson, 1985. "The Dissipation of Profits by Brand Name Investment and Entry When Price Guarantees Quality," Discussion Papers 697, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

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