Regulation and Incentives in European Aviation
研究了欧洲航空业放松管制对成本和竞争的影响，通过构建包含需求、容量和成本的模型，发现考虑成本削减努力能避免效率估计偏差，且欧盟最后一轮放松管制措施显著提升了效率并促进了竞争。
We study the effect of liberalization on costs and competition in the European airline industry. We construct and estimate a model that includes demand, capacity, and cost equations. The latter accounts for inefficiency and cost‐reducing effort. We show that failure to account for the choice of effort would lead to biased estimates of efficiency and competition in the industry. We also find that the last European Union package of deregulatory measures has led to significant efficiency improvements and has fostered competition.