Time Effect of Low-Cost Carrier Entry and Social Welfare in US Large Air Markets
Time Effect of Low-Cost Carrier Entry and Social Welfare in US Large Air Markets
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DOI：
10.1016/j.tre.2010.11.003
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发表时间：
2011-05
影响因子：
10.6
通讯作者：
H. Murakami
中科院分区：
文献类型：
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作者：
H. Murakami
在本研究中，我们实证分析了大多数低成本航空公司（LCC）进入市场时的机票价格水平，低成本航空公司对现有航空公司机票价格的影响，影响是否取决于市场中存在的低成本航空公司的数量以及低成本航空公司是否进入了全服务航空公司（FSC）的枢纽机场或邻近机场，低成本航空公司进入后的几年是否持续，最后是低成本航空公司进入的福利含义。我们利用1998年公布的数据，对同时存在的需求和价格（伪供给）方程进行建模和估计，得出低成本公司进入的这四种经济影响。我们的主要发现是，低成本城市进入的影响在进入年份和第二年之间没有差异，社会福利收益是可观的，90%的福利收益来自消费者剩余的收益。
In this study we empirically analyzed the airfare level at which most low-cost carriers (LCCs) entered the market, what impacts LCCs had on the airfares of incumbent carriers, whether the impacts differed depending on how many LCCs existed in a market and on whether LCC(s) entered a full-service carrier (FSC)’s hub airport or an adjacent airport, whether the low-airfare impact continued for the years following entry, and finally what are the welfare implication of LCCs’ entries. We modeled and estimated the simultaneous demand and price (pseudo-supply) equation to derive these four economic impacts of LCCs’ entries by using published data of 1998. Our main findings are that the impact of LCCs’ entries did not differ between the entry year and the second year and the social welfare gains are substantial, and 90% of welfare gains come from the gain in consumers surplus.