How do slot restrictions affect airfares? New evidence from the US airline industry
How do slot restrictions affect airfares? New evidence from the US airline industry
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DOI：
10.1016/j.ecotra.2019.01.001
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发表时间：
2019-03-01
影响因子：
2.8
通讯作者：
Fukui, Hideki
中科院分区：
文献类型：
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作者：
Fukui, Hideki
本文探讨了作为稀缺租金的决定因素的插槽限制的影响。我利用了一个外源性的监管变化：2016年10月纽瓦克机场取消了插槽。有和没有倾向得分匹配或加权方法的差异中的差异估计的结果表明，在纽瓦克机场的插槽删除后，往返于纽瓦克的航线上的平均票价下降了约2.5-2.6%，相比于往返于其他两个插槽控制的纽约地区机场的航线上的平均票价。修正模型的估计结果表明，在取消舱位后，降低往返纽瓦克航线票价的主要驱动因素是纽瓦克主要航空公司以外的航空公司，尽管即使是主要航空公司联合航空公司似乎也在降价，以抵消其他航空公司在竞争航线上的大幅降价。总的来说，估计结果表明，时隙限制限制竞争对机票的影响。
This paper examines the impact of slot restrictions as a determinant of scarcity rent. I took advantage of an exogenous regulatory change: the removal of slots at Newark Airport in October 2016. The results from the difference-in-differences estimation with and without propensity score matching or weighting methods suggest that after the slot removal at Newark Airport, the average fare on routes to or from Newark decreased by about 2.5-2.6% in comparison to the average fare on routes to or from the two other slot-controlled New York-area airports. The estimation results from modified models suggest that the key driver lowering airfares on routes to or from Newark after the slot elimination was carriers other than the dominant carrier at Newark, though even the dominant carrier, United Airlines, appears to be making price cuts to counteract other carriers' aggressive price reductions on competitive routes. Overall, the estimation results suggest that slot restrictions limit the effect of competition on airfare.