This paper presents independent confirmation of the results obtained in recent studies that suggest mergers and acquisitions creating airline dominance at the airport level lead to market power. Using a different methodology – an events study for the 1986 merger of Northwest Orient Airlines and Republic Airlines – this paper confirms those results, indicating that concentration in the context of the sunk costs associated with the operation at a particular airport facility allows market power in the airline industry.
Review of Industrial Organization – Springer Journals
Published: Sep 29, 2004
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