Introduction to Air Transport Economics From Theory to Applications

ISBN-10: 1409454878

ISBN-13: 9781409454878

Edition: 2nd 2013 (Revised)

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Description:

This work merges the institutional and technical aspects of the aviation industry with their theoretical economic underpinnings. In one comprehensive textbook, it applies economic theory to all aspects of the aviation industry.
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Book details

Edition: 2nd
Copyright year: 2013
Publisher: Taylor & Francis Group
Publication date: 9/14/2016
Binding: Paperback
Pages: 512
Size: 6.75" wide x 9.50" long x 1.50" tall
Weight: 2.420
Language: English

List of Figures
List of Tables
Glossary of Terms
List of Abbreviations
About the Authors
Acknowledgements
Foreword
Preface to the Second Edition
The Evolving Air Transport Industry
The Airline Industry
Financial Condition of the Airline Industry
Consolidation and Bankruptcies
Factors Affecting World Air Traffic Growth
Economic Impact of the Air Transport Industry
Outlook for the Air Transport Industry
Summary
Discussion Questions
References
Principles of Economics with Applications in Aviation
Basic Economics
Scope of Economics
The Role of Economic Systems
Government Failures and Market Failures
Summary
Discussion Questions
References
Supply and Demand: Analysis in the Airline Industry
Basics of Demand
Basics of Supply
Market Equilibrium
Consumer and Producer Surplus
Disequilibrium
Elasticity
Summary
Discussion Questions
References
Cost and Production Analysis: The General Concepts
Cost Division
Cost Functions
Economies of Scale, Scope, and Density
Airline Industry Cost Structure
Airline Economies of Scale, Scope, and Density
Airline Breakeven Analysis
Operating Leverage
Airline Operating Leverage
Summary
Discussion Questions
Appendix: Airline Cost Classification and Division
References
Aviation Infrastructure: Operations and Ownership
Air Traffic Control System
Institutional Problems in US Air Traffic Control
Air Traffic Control in a Government Corporation
Political Obstacles to Reform
Solutions to Air Traffic Control Problems
Airport Ownership and Management
Summary
Discussion Questions
Appendix
References
International Economics and Aviation
Trade Globalization
International Economics and Trade
Why Nations Trade
Aircraft Manufacturing and Governmental Subsidies
International Trade Policy in Air Travel-Optimality versus Political Realities
Foreign Currency and Exchange Rates
Summary
Discussion Questions
Appendix: International Free Trade Agreements
References
Open Skies and Global Alliances
Chronology of International Air Transport Agreements
Bilateral and Multilateral Air Service Agreements
Open Skies in Europe
Open Skies in Asia
Global Airline Alliances
Summary
Discussion Questions
References
Competitive Market Structure and Monopolistic Markets
Perfect Competition
Monopoly
Price/Output Decision for Monopolies
Monopoly Pricing and Consumer Well-being
Monopoly Market Power in Aviation
Monopsony
Summary
Discussion Questions
References
Hybrid Market Structure and the Aviation Industry
Monopolistic Competition
Oligopolies
Examples of Oligopoly
Contestability Theory
Kinked Demand Curve Theory
Cournot Theory
Price-Output Determination under hybrid Market Structure
Profitability Issues
Competition and Anti-trust Issues
Industry Consolidation
Beyond Market Concentration Considerations
Anti-trust, Market Evolution, and Cooperation
Summary
Discussion Questions
References
Aviation Forecasting and Regression Analysis
Aviation Forecasting Applications
Qualitative Forecasting Methods
Quantitative Forecasting Methods
Descriptive Statistics
Time-series Analysis
Time-series Forecasting
Forecast Accuracy
Regression Analysis
Data Sources
Summary
Discussion Questions
References
Dynamic Pricing Policy and Revenue Management
Dynamic Pricing Policy
Cost-based Pricing
Markup and Price Elasticity of Demand
Bundling
Unbundling and Airline Ancillary Revenue
Market Skimming and Penetration Pricing
Peak-load Pricing
Price Discrimination
Consumer Surplus
Necessary Conditions for Price Discrimination
Degrees of Price Discrimination
Uniform Pricing versus Price Discrimination
Importance of Revenue Management
Scenario: Uniform versus Multiple Pricing
Revenue Management "Fences"
Revenue Management Control Types
Spoilage and Spillage
Leg-based Expected Marginal Seat Revenue Model
Overbooking
Other Issues Associated with Revenue Management
Summary
Discussion Questions
Appendix: Derivation of Overbooking Probability Equation
References
Low-cost and Start-up Airlines: A New Paradigm
The Evolution of the Industry
Characteristics of Low-cost Carriers
Cost Structure Comparison
Incumbent Carriers' Response to Low-cost Carriers
The Future of Low-cost Carriers
Summary
Discussion Questions
Appendix: Select Airline Two Letter Codes
References
The Economics of Aviation Safety and Security
The Basics of Aviation Safety
The History of Aviation Safety
Incentives for Aviation Safety
Causes of Aviation Accidents
Basic Economics of Safety
Politics and Safety Regulation
Accident Prevention
Summary
Discussion Questions
References
An Overview of Macroeconomics for Managers
Economic Growth
Unemployment
Inflation
Monetary Policy
Fiscal Policy
The Sovereign (Government) Debt Crisis
Can the US Avoid Greece's Fate?
What is the Future of the World Economy?
Summary
Discussion Questions
References
Airport and Airline Codes
List of Countries by GDP (2012)
Traffic Movements (2012)
Passenger Traffic (2010)
Index
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