Is the Effect of Competition on Price Dispersion Nonmonotonic? Evidence from the U.S. Airline Industry
利用1993-2008年美国航空业面板数据，发现竞争对价格离散存在非单调影响：在集中市场中竞争加剧价格离散，在竞争市场中则降低，呈倒U型关系。
Abstract We investigate the effect of competition on price dispersion in the airline industry. Using panel data from 1993 to 2008, we find a nonmonotonic effect of competition on price dispersion. An increase in competition is associated with greater price dispersion in concentrated markets but with less price dispersion in competitive markets—an inverse-U relationship. Our empirical findings are consistent with an oligopolistic second-degree price discrimination model and encompass contradictory findings in the literature.