Network Competition in the Airline Industry: An Empirical Framework
提出了一个实证框架和新均衡概念来分析航空公司的网络竞争，发现忽略网络外部性会低估新增航班的收益13.2%并减少21.5%的中转航班，模拟2014年阿拉斯加与维珍合并可能提升消费者剩余。
ABSTRACT This article proposes an empirical framework and a novel equilibrium concept to analyze network competition in the airline industry. A two‐stage entry model links direct and indirect flights, using a technological relationship estimated from data to mimic the hub‐and‐spoke network. It employs revealed‐preference arguments to bound fixed cost parameters, estimated using state‐of‐the‐art econometric methods. Ignoring network externality undervalues the benefits of additional flights by 13.2% and leads to 21.5% fewer one‐stop flights. A hypothetical merger between Alaska and Virgin in 2014 could increase consumer surplus as the merged airline would offer more flights with muted post‐merger prices.