Price Dispersion Over the Business Cycle: Evidence from the Airline Industry
研究了航空业价格离散如何随商业周期变化，基于17年面板数据发现价格离散呈强顺周期性，且传统航空公司比低成本航空公司更明显，与二级价格歧视策略一致。
This study provides empirical evidence documenting how price dispersion moves with the business cycle in the airline industry. Performing a fixed‐effects panel analysis on seventeen years of data covering two business cycles, we find that price dispersion is highly pro‐cyclical. This effect is especially pronounced for legacy carriers relative to low‐cost carriers. We show that our empirical result is consistent with firms' implementing second‐degree price‐discrimination tactics.