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The Optimality of Competitive Air Transport Markets: A Review of Aspects of the ICAP Report

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  • CHRISTOPHER C. FINDLAY

Abstract

The results of a model of optimal air fares and flight frequency, which can also be used to generate market results, are applied to market failure arguments, contained in the recent ICAP Report, for regulation of international airlines. The arguments of the report are classified under headings of capacity and utilization, ‘on‐demand’ service and fare structure. It is argued contrary to the ICAP Report that the competitive result can he optimal in conditions likely to apply on international routes.

Suggested Citation

  • Christopher C. Findlay, 1982. "The Optimality of Competitive Air Transport Markets: A Review of Aspects of the ICAP Report," The Economic Record, The Economic Society of Australia, vol. 58(2), pages 141-151, June.
    • Handle: RePEc:bla:ecorec:v:58:y:1982:i:2:p:141-151
    DOI: 10.1111/j.1475-4932.1982.tb00360.x
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    References listed on IDEAS

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    1. Panzar, John C, 1979. "Equilibrium and Welfare in Unregulated Airline Markets," American Economic Review, American Economic Association, vol. 69(2), pages 92-95, May.
    2. F. H. Knight, 1924. "Some Fallacies in the Interpretation of Social Cost," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 38(4), pages 582-606.
    3. J. A. Kay, 1979. "Uncertainty, Congestion and Peak Load Pricing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(4), pages 601-611.
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    Cited by:

    1. Loeb, Sandra & Bruning, Edward & Hu, Michael, 2020. "Government's Role in a Post-Deregulated Environment: the Case of International Aviation," 29th Annual Canadian Transportation Research Forum, Vancouver, British Columbia, May 15-18, 1994 305993, Canadian Transportation Research Forum (CTRF).
    2. Loeb, Sandra & Bruning, Edward & Hu, Michael, 2020. "Government's Role in a Post-Deregulated Environment: the Case of International Aviation," Papers 305993, Canadian Transportation Research Forum (CTRF).

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