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Entry and Exit in a Liberalised Market

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  • Maria J. Gil-Molto

    ()
    (Loughborough University Economics Department)

  • Claudio A. Piga

    ()
    (Loughborough University Economics Department)

Abstract

We analyze the determinants of entry and exit in the European Airline Markets in the post-liberalization period. Unlike previous studies, we find that the presence of charter or seasonal operators and the level of quality provided by the incumbents are relevant to explain entry and exit. Differential traits in the main low cost airlines' entry and exit behavior are also analysed.

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Bibliographic Info

Paper provided by Department of Economics, Loughborough University in its series Discussion Paper Series with number 2005_10.

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Date of creation: Dec 2005
Date of revision: May 2006
Handle: RePEc:lbo:lbowps:2005_10

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Keywords: Entry; Exit; Airlines; Conditional Logit;

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References

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  1. Austan Goolsbee & Chad Syverson, 2004. "How Do Incumbents Respond to the Threat of Entry? Evidence from the Major Airlines," Working Papers, NET Institute 04-04, NET Institute, revised Dec 2004.
  2. Morrison, Steven A & Winston, Clifford, 1990. "The Dynamics of Airline Pricing and Competition," American Economic Review, American Economic Association, American Economic Association, vol. 80(2), pages 389-93, May.
  3. G. Buenstorf & S. Klepper, 2004. "The Origin and Location of Entrants in the Evolution of the U.S. Tire Industry," Papers on Economics and Evolution 2004-07, Philipps University Marburg, Department of Geography.
  4. Berry, Steven T, 1992. "Estimation of a Model of Entry in the Airline Industry," Econometrica, Econometric Society, Econometric Society, vol. 60(4), pages 889-917, July.
  5. Dixit, Avinash, 1980. "The Role of Investment in Entry-Deterrence," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 90(357), pages 95-106, March.
  6. Borenstein, S., 1991. "The Evolution of U.S. Airline Competition," Papers, California Davis - Institute of Governmental Affairs 389, California Davis - Institute of Governmental Affairs.
  7. Motta,Massimo, 2004. "Competition Policy," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521016919.
  8. Brueckner, Jan K., 2001. "The economics of international codesharing: an analysis of airline alliances," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 19(10), pages 1475-1498, December.
  9. Edward C. Norton & Hua Wang & Chunrong Ai, 2004. "Computing interaction effects and standard errors in logit and probit models," Stata Journal, StataCorp LP, StataCorp LP, vol. 4(2), pages 154-167, June.
  10. Joskow, Andrew S. & Werden, Gregory J. & Johnson, Richard L., 1994. "Entry, exit, and performance in airline markets," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 12(4), pages 457-471, December.
  11. Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, The RAND Corporation, vol. 10(1), pages 141-156, Spring.
  12. Youdi Schipper & Piet Rietveld & Peter Nijkamp, 2002. "European Airline Reform: An Empirical Welfare Analysis," Journal of Transport Economics and Policy, London School of Economics and University of Bath, London School of Economics and University of Bath, vol. 36(2), pages 189-209, May.
  13. Evans, William N & Kessides, Ioannis N, 1994. "Living by the "Golden Rule": Multimarket Contact in the U.S. Airline Industry," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 109(2), pages 341-66, May.
  14. Michael Mazzeo, 2003. "Competition and Service Quality in the U.S. Airline Industry," Review of Industrial Organization, Springer, Springer, vol. 22(4), pages 275-296, June.
  15. Giaume, Stephanie & Guillou, Sarah, 2004. "Price discrimination and concentration in European airline markets," Journal of Air Transport Management, Elsevier, Elsevier, vol. 10(5), pages 305-310.
  16. Charles Boguslaski & Harumi Ito & Darin Lee, 2004. "Entry Patterns in the Southwest Airlines Route System," Review of Industrial Organization, Springer, Springer, vol. 25(3), pages 317-350, 08.
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Cited by:
  1. Claudio A. Piga & Enrico Bachis, 2006. "Do Prices grow more in Euroland? Evidence from the Airline Industry," Discussion Paper Series, Department of Economics, Loughborough University 2006_8, Department of Economics, Loughborough University, revised Nov 2006.

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