Adaptation and Vertical Integration in the Airline Industry
Adaptation and Vertical Integration in the Airline Industry
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DOI：
10.1257/aer.99.5.1831
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发表时间：
2009-12-01
影响因子：
10.7
通讯作者：
Lederman, Mara
中科院分区：
文献类型：
--
作者：
Forbes, Silke Januszewski;Lederman, Mara
We explore patterns of vertical integration in the US airline industry. Major airlines subcontract portions of their network to regional partners, which may or may not be owned. We investigate if ownership economizes on ex post renegotiation costs. We estimate whether airlines are more likely to use owned regionals on city pairs with adverse weather (which makes adaptation decisions more frequent) and on city pairs that are more integrated into the major's network (which raises the costs of having adaptation decisions resolved suboptimally). Our results suggest a robust empirical relationship between adaptation and vertical integration in this setting. (JEL L14, L22, L24, L93)
