Empirical Analysis of Inter‐Firm Rivalry between Japanese Full‐Service and Low‐Cost Carriers
Empirical Analysis of Inter‐Firm Rivalry between Japanese Full‐Service and Low‐Cost Carriers
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DOI：
10.1111/j.1468-0106.2010.00537.x
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发表时间：
2011-02
期刊：
影响因子：
--
通讯作者：
H. Murakami
中科院分区：
文献类型：
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作者：
H. Murakami
本文通过估计各运营商的S行为参数，实证分析了日本低成本航空公司(以下简称LCC)和全服务航空公司(以下简称FSC)之间企业间竞争的动态变化，并利用9条航线上2~4家航空公司4~8年(130个样本)的非平衡特定运营商面板数据，通过估计低成本航空公司进入市场后的结构性需求和机票价格方程，推导出低成本航空公司进入市场后消费者剩余的动态变化。我们的发现是：(1)在此期间，LCC和反应性FSC的行为参数非常低，以至于日本联邦贸易委员会(FTCJ)即将进行干预；(2)在LCC进入的第三年，行为参数恢复到甚至超过了进入前的水平；(3)在9个市场中，有5个市场的总福利有所增加，而在3个市场中，只有航空业受益，而在1个市场中，总福利下降。在结果(3)的基础上，我们得出结论，日本监管部门似乎支持航空业，而不是消费者。日本监管部门允许FSC从事将LCC赶出竞争市场的行为，同时也允许ANA和LCC之间串通代码共享。
This paper empirically analyzes dynamic change in inter-firm rivalry betwee Japanese low-cost carriers (hereafter, LCCs) and full-service carriers (hereafter, FSCs), by estimating each carrier' s conduct parameters, and it deduces the dynamic change in consumer surplus after an LCC enters a market by estimating structural demand and airfare equations using unbalanced carrier-specific panel data of two to four carriers on nine routes for four to eight years (130 samples). Our findings are that (1) the conduct parameters of LCCs and reacting FSCs were extraordinarily low during that period, such that the Federal Trade Commission of Japan (FTCJ) was about to intervene; (2) the conduct parameters were restored to, or even exceeded, the pre-entry level in the third year of LCC entry; (3) gains in total welfare were recognized for five of the nine markets, whereas in three markets only the airline industry benefited, and in one market, total welfare decreased. On the basis of result (3), we conclude that Japanese regulatory sectors, which have allowed FSCs to engage in behavior that drives LCCs out of competitive markets while also allowing collusive code-shares between ANA and LCCs, seem to stand by the airline industry instead of consumers.