Are legacy airline mergers pro- or anti-competitive? Evidence from recent US airline mergers

被引：19
|
作者：
Carlton, Dennis [1 ,2 ]
Israel, Mark [3 ]
MacSwain, Ian [3 ]
Orlov, Eugene [3 ]
机构：
[1] Univ Chicago, Chicago, IL 60637 USA
[2] NBER, Cambridge, MA 02138 USA
[3] Compass Lexecon, 1999 Ave Stars,Ste 1150, Los Angeles, CA 90067 USA
来源：
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION | 2019年 / 62卷
关键词：
Airline Mergers; Antitrust Policy; Merger Retrospective; MARKET POWER; DOMINANCE;
D O I：
10.1016/j.ijindorg.2017.12.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Due to a series of recent mergers, the number of legacy airlines in the United States has decreased from six to three. We conduct a comprehensive investigation of the effect on fares and output of these legacy airline mergers to determine whether the mergers have had an overall pro-competitive or anti-competitive effect on consumers. Our difference-in-differences regression analysis shows that these mergers have been pro-competitive, with no significant adverse effect on nominal fares and with significant increases in passenger traffic as well as capacity. Taken together, the results indicate that the recent legacy mergers were pro-competitive. (c) 2017 Elsevier B.V. All rights reserved.
引用
收藏
页码：58 / 95
页数：38
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