Why does the airline industry over-invest?
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- Hu, Qiwei & Zhang, Anming, 2015. "Real option analysis of aircraft acquisition: A case study," Journal of Air Transport Management, Elsevier, vol. 46(C), pages 19-29.
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More about this item
KeywordsAirline investment; Commercial wars of attrition; Principal-agent problems; Economies of scale; Hysteresis;
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