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Does Competition Increase or Decrease Price Dispersion? Insights from One-Way vs. Round-Trip Airfares*
Oxford Bulletin of Economics and Statistics ( IF 2.5 ) Pub Date : 2022-03-03 , DOI: 10.1111/obes.12488
Myongjin Kim 1 , Leilei Shen 2 , Qi Ge 3
Affiliation  

Does competition increase or decrease price dispersion? Our study addresses this long-standing debate by presenting an intriguing empirical puzzle. Specifically, leveraging an extended panel from the U.S. airline industry between 1993 and 2013, we find that competition intensity and price dispersion are positively correlated for one-way tickets but negatively correlated for round-trip products. We posit that the recent growth in one-way ticket sales may have led airlines to adjust their pricing strategies to allow for more effective market segmentation. Our study contributes to the empirical literature on price dispersion across multiple goods and helps inform antitrust policy on product bundling.

中文翻译:

竞争会增加还是减少价格差异?单程与往返机票的见解*

竞争会增加还是减少价格差异?我们的研究通过提出一个有趣的实证难题来解决这个长期存在的争论。具体而言,利用 1993 年至 2013 年间美国航空业的扩展面板,我们发现竞争强度和价格离散度与单程票正相关,但与往返产品负相关。我们认为,最近单程机票销售的增长可能导致航空公司调整其定价策略,以实现更有效的市场细分。我们的研究为关于多种商品价格分散的实证文献做出了贡献,并有助于为产品捆绑的反垄断政策提供信息。
更新日期:2022-03-03
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