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Adaptation and Vertical Integration in the Airline Industry
Abstract
We explore patterns of vertical integration in the US airline industry. Major airlines subcontract portions of their network to regional partners, which may or may not be owned. We investigate if ownership economizes on ex post renegotiation costs. We estimate whether airlines are more likely to use owned regionals on city pairs with adverse weather (which makes adaptation decisions more frequent) and on city pairs that are more integrated into the major's network (which raises the costs of having adaptation decisions resolved suboptimally). Our results suggest a robust empirical relationship between adaptation and vertical integration in this setting. (JEL L14, L22, L24, L93)
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Cited by
Anticompetitive Effects of Common Ownership
AZAR, J., SCHMALZ, M. C., & TECU, I. (2018) · The Journal of Finance · doi:10.1111/jofi.12698 · Cited by 980
“The availability of high-quality route-level price and quantity data enables us to more cleanly identify the effect of common ownership on product prices than would be possible in firm-level studies across industries.”
BackgroundTadelis, S., & Williamson, O. E. (2012) · SSRN Electronic Journal · doi:10.2139/ssrn.2020176 · Cited by 295
Metadata
- Authors
- Forbes, S. J., & Lederman, M.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2009-12-01
- Volume
- 99
- Issue
- 5
- Pages
- 1831-1849
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2156485519
- Cited by
- 195
- References
- 0
- FWCI
- 35.78
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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