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Route Competition in Multi-Airport Cities: An Analysis of US Air Fares

机译：多机场城市中的航线竞争：美国机票价格分析

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摘要

When there is only one airport in the origin and destination cities of a given route market, the assessment of level of competition in an airline route market can be straightforward. The presence of more than one airport at the origin or destination cities, however, makes the measurement of route competition much more difficult. This research measures competition at both the airport pair and city pair levels to empirically separate the impacts of direct and adjacent competition on yields in multi-airport cities. The analysis of a large panel data set from the US airline industry reveals that airport pairs within a metropolitan area appear to be effective yet imperfect substitutes. That is, while competition at adjacent airport pairs does have significant effect on fares in a focal airport pair market, this effect is found to be markedly smaller than that of added competition in the focal airport-to-airport route market. In addition, the effects of airport location relative to the population epicenter, the extent of airport congestion, and a carrier's strategic type on yields and passenger demand are assessed. Implications for policymakers and managers are discussed and directions for future research are provided.
机译：当给定航线市场的始发地和目的地城市中只有一个机场时，对航空公司航线市场中竞争水平的评估可能很简单。然而，在始发地或目的地城市中存在不止一个机场，这使得路线竞争的测量变得更加困难。这项研究测量了机场对和城市对的竞争，以经验方式将直接竞争和相邻竞争对多机场城市收益的影响分开。对来自美国航空业的大型面板数据集的分析表明，大都市区内的机场对似乎是有效的，但替代品并不完善。就是说，虽然相邻机场对的竞争确实对重点机场对市场的票价产生重大影响，但发现这种影响明显小于重点机场到机场航线市场上的附加竞争。此外，还评估了相对于人口震中的机场位置，机场拥挤程度以及承运人的战略类型对收益率和旅客需求的影响。讨论了对决策者和管理者的影响，并提供了未来研究的方向。

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