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Mutual forbearance, the representativeness heuristic and airline safety

机译:相互宽容,代表性启发和航空公司安全

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This paper investigates the impact of airline crashes on fares and enplanement over the period 1984-1997. Empirical evidence suggests that none of the large carriers seem to initiate price wars with other large rivals involved in crashes, suggesting mutual forbearance. In contrast, small carriers raise their fares in response to small rivals' crashes, perhaps commanding higher premiums due to their perceived higher safety level and in anticipation of consumer switching. Further estimation results suggest that only a small fraction of passengers form perceptions about crashes according to the representativeness heuristic. Moreover, large rivals' crashes are associated with no consumer switching across other large carriers but are associated with enplanement losses for small carriers. The findings suggest that consumer perceptions raise important concerns about the challenges that carriers, especially the smaller ones, may face in depicting their true safety level to consumers whose vision may have been blurred by representativeness bias. Nevertheless, although consumers do not necessarily treat crashes as random events, large carriers may breathe a sigh of relief about the extent of consumer panic and overreaction.
机译:本文调查了1984年至1997年间飞机失事对票价和飞机起降的影响。经验证据表明,大型承运人似乎都没有与其他参与坠机事故的大型竞争对手发起价格战,这表明他们是相互忍耐的。相比之下,小型承运商会提高票价,以应对小型竞争对手的坠机事故,由于他们认为更高的安全水平和预期的消费者转换,可能会要求更高的保费。进一步的估计结果表明,根据代表性启发式方法,只有一小部分乘客形成了对撞车的感知。而且,大型竞争对手的坠机与没有消费者在其他大型运输公司之间进行切换有关,而与小型运输公司的飞机损失有关。研究结果表明,消费者的看法引起了人们对于承运人(尤其是较小的承运人)在描述其真实安全水平给面临视力可能因代表性偏差而模糊的消费者所面临的挑战方面的重大关切。尽管如此,尽管消费者并不一定将撞车视为随机事件,但大型运输公司可能会为消费者的恐慌和过度反应而松一口气。

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