Introduction to Air Transport Economics: From Theory to Applications 3rd New edition [Pehme köide]

(Embry-Riddle Aeronautical University, USA), ,
  • Formaat: Paperback / softback, 498 pages, kõrgus x laius: 248x171 mm, kaal: 862 g, 189 Line drawings, black and white; 108 Tables, black and white; 189 Illustrations, black and white
  • Ilmumisaeg: 08-Feb-2018
  • Kirjastus: Routledge
  • ISBN-10: 1138237752
  • ISBN-13: 9781138237759
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  • Formaat: Paperback / softback, 498 pages, kõrgus x laius: 248x171 mm, kaal: 862 g, 189 Line drawings, black and white; 108 Tables, black and white; 189 Illustrations, black and white
  • Ilmumisaeg: 08-Feb-2018
  • Kirjastus: Routledge
  • ISBN-10: 1138237752
  • ISBN-13: 9781138237759

Introduction to Air Transport Economics: From Theory to Applications uniquely merges the institutional and technical aspects of the aviation industry with their theoretical economic underpinnings. In one comprehensive textbook it applies economic theory to all aspects of the aviation industry, bringing together the numerous and informative articles and institutional developments that have characterized the field of airline economics in the last two decades as well as adding a number of areas original to an aviation text. Its integrative approach offers a fresh point of view that will find favor with many students of aviation.

The book offers a self-contained theory and applications-oriented text for any individual intent on entering the aviation industry as a practicing professional in the management area. It will be of greatest relevance to undergraduate and graduate students interested in obtaining a more complete understanding of the economics of the aviation industry. It will also appeal to many professionals who seek an accessible and practical explanation of the underlying economic forces that shape the industry.

The third edition has been extensively updated throughout. It features new material that stresses the dynamic aspects of demand and supply and the ongoing competitive aspects of the marketplace. It now features an introductory chapter, and specific examples, to more directly relate management decisions to the economic theory. Also, in addition to an expanded coverage of revenue management and pricing decisions, the third edition includes case studies that give real-world examples to reflect actual industry practise as well as a discussion of the more up-to-date computer applications that make the new techniques so effective. There is in-depth discussion of recent mergers within the industry, the existence of unmanned aerial systems (UAS) and how they may be incorporated into the national airspace system, and also the evolution of low-cost airlines, their popularity and effect on the industry.

Arvustused

'A vital text in the arena of air transport economics. Readers will not only understand how the processes of economics are utilised in the aviation industry, but will also be able to relate these ideas to that of up-to-date case studies in a concise, well written and relevant to degree studies fashion.' Simon Faulkner, Aviation and Airport Management Lecturer, University College Birmingham, UK 'A valuable book for our Masters students, Introduction to Air Transport Economics is a valuable desk resource for aviation managers, in the latest edition, as our industry is rapidly changing.' Captain Tilmann Gabriel, Director of Aviation Masters Programmes, City University of London, UK

List of figures
ix
List of tables
xiii
About the authors xvi
Foreword xvii
Preface to the third edition xix
Acknowledgements xxi
1 Advancement of the air transport industry
1(23)
The airline industry
2(4)
Financial condition of the airline industry
6(3)
Consolidation and bankruptcies
9(6)
Factors affecting world air traffic growth
15(2)
Economic impact of the air transport industry
17(3)
Outlook for the air transport industry
20(1)
Summary
21(1)
Discussion questions
21(3)
2 Principles of economics with applications in the air transport industry
24(22)
Basic economics
25(1)
Scope of economics
25(10)
The role of economic systems
35(3)
Economic failures
38(5)
Summary
43(1)
Discussion questions
43(3)
3 Supply, demand, and elasticity: analysis in the airline industry
46(60)
Basic elements of demand
47(3)
Derived demand
50(1)
Direct demand
51(1)
Demand function
51(21)
Basics of supply
72(6)
Market equilibrium
78(7)
Consumer and producer surplus
85(4)
Disequilibrium
89(1)
Price sensitivity and elasticity
90(11)
Summary
101(1)
Discussion questions
101(5)
4 Cost and production analysis: the general concepts
106(45)
Cost classification
107(4)
Components of cost
111(4)
Cost functions
115(7)
Economies of scale, scope, and density
122(4)
Operating leverage
126(3)
Airline industry cost structure
129(10)
Airline economies of scale, scope, and density
139(3)
Airline breakeven analysis
142(2)
Airline operating leverage
144(1)
Summary
145(1)
Discussion questions
145(6)
5 Operations and ownership
151(22)
Air traffic control system
152(5)
Institutional problems in US air traffic control
157(1)
Air traffic control in a government corporation
158(1)
Solutions to air traffic control problems in the US
158(3)
Airport ownership and management
161(7)
Summary
168(1)
Discussion questions
169(4)
6 International economics and aviation
173(34)
Trade globalization
174(3)
International economics and trade
177(7)
Why nations trade
184(8)
Aircraft manufacturing and governmental subsidies
192(1)
International trade policy in air travel: optimality versus political realities
193(3)
Foreign currency and exchange rates
196(2)
Summary
198(1)
Discussion questions
199(8)
7 Open skies and global alliances
207(25)
Chronology of international air transport agreements
208(2)
Bilateral and multilateral air service agreements
210(6)
Open skies in Europe
216(2)
Open skies in Asia and the Pacific
218(1)
Global airline strategic alliances
219(9)
Summary
228(1)
Discussion questions
228(4)
8 Competitive market structure and monopolistic markets
232(33)
Introduction
233(1)
Perfect (pure) competition
233(9)
Monopoly
242(12)
Monopoly market power in aviation
254(6)
Monopsony and bilateral monopoly
260(1)
Summary
261(1)
Discussion questions
262(3)
9 Hybrid market structure and the aviation industry
265(41)
Monopolistic competition
266(5)
Oligopolies
271(8)
Contestability theory
279(2)
Kinked demand curve theory
281(1)
Cournot theory
282(3)
Price-output determination under hybrid market structure
285(4)
Profitability issues
289(2)
Competition and anti-trust issues
291(5)
Industry consolidation
296(4)
Beyond market concentration considerations
300(1)
Anti-trust, market evolution, and cooperation
301(1)
Summary
302(1)
Discussion questions
302(4)
10 Forecasting in the air transport industry
306(52)
Application
308(1)
Qualitative forecasting methods
309(6)
Data analysis
315(1)
Descriptive statistics
316(4)
Time-series analysis
320(4)
Time-series forecasting
324(7)
Forecast accuracy
331(3)
Regression analysis
334(15)
Data sources
349(3)
Summary
352(1)
Discussion questions
352(6)
11 Dynamic pricing policy and revenue management
358(48)
Dynamic pricing policy
359(1)
Cost-based pricing
360(2)
Markup and price elasticity of demand
362(2)
Bundling
364(1)
Unbundling and airline ancillary revenue
365(1)
Market skimming and penetration pricing
365(1)
Peak-load pricing
366(1)
Price discrimination in the airline industry
367(1)
Consumer surplus
367(2)
Necessary conditions for price discrimination
369(1)
Degrees of price discrimination
370(2)
Uniform pricing versus price discrimination
372(1)
Uniform versus multiple pricing
373(3)
Airline revenue management
376(1)
Revenue management "fences"
377(3)
Revenue management control types
380(2)
Spoilage and spillage
382(2)
Leg-based expected marginal seat revenue model
384(7)
Overbooking
391(7)
Other issues associated with revenue management
398(1)
Summary
399(1)
Discussion questions
399(7)
12 Ultra-low-cost and low-cost airlines: paradigm shifts
406(27)
Introduction
407(1)
Evolution of low-cost business model
408(4)
Characteristics of low-cost carriers
412(10)
Cost structure comparison
422(3)
Ancillary revenue
425(1)
Incumbent carriers' response to low-cost carriers
426(2)
Ultra-low-cost carriers
428(1)
Summary
429(1)
Discussion questions
430(3)
13 Economics of aviation safety and security
433(26)
The basics of aviation safety
434(1)
The history of aviation safety
435(4)
Incentives for aviation safety
439(4)
Causes of aviation accidents
443(8)
Basic economics of safety
451(1)
Politics and safety regulation
452(2)
Accident prevention
454(1)
Summary
455(1)
Discussion questions
455(4)
Glossary of terms 459(7)
Abbreviations 466(4)
Answers to selected questions and problems 470(15)
Index 485
Bijan Vasigh is Professor of Economics and Finance in the College of Business at Embry-Riddle Aeronautical University, Daytona Beach, Florida. He received a Ph.D. in Economics from the State University of New York, and has published many articles concerning the aviation industry. Ken Fleming received his Ph.D. from the University of California at San Diego in August 1978 with specialties in Econometrics and Public Finance. He received his M.A. in Economics from the University of California at Los Angeles in June 1969. Thomas Tacker is Professor of Economics and the Chair of the Department of Economics, Finance and Information Systems at Embry-Riddle Aeronautical University. He received his Ph.D. from the University of North Carolina, Chapel Hill, and his B.S. in Business Administration from Embry-Riddle.

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