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Similarity: Matters of History and Luck

In: 45 Conversations About Behavioral Economics

Author

Listed:
  • Li Way Lee

    (Wayne State University)

  • Aaron Keathley

    (Wayne State University)

Abstract

Consider flights from Detroit to Las Vegas. Let's say that there is steady and equalsimilarity demand around the clock. There are three airlines offering flights. Airline X and Airline Y both offer flights at noon. Airline Z offers flights at midnight. The three airlines charge the same price and offer the same services. Are they in equilibrium? What are their market sharesmarket share? If they are not equal, then tell a story that would explain it. History? Luck?

Suggested Citation

  • Li Way Lee & Aaron Keathley, 2022. "Similarity: Matters of History and Luck," Springer Books, in: 45 Conversations About Behavioral Economics, chapter 0, pages 43-45, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-05046-6_11
    DOI: 10.1007/978-3-031-05046-6_11
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