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21.
Kathrin Müller Kai Hüschelrath Volodymyr Bilotkach 《Managerial and Decision Economics》2012,33(7-8):485-499
The paper investigates the construction of a low‐cost airline network by analyzing JetBlue Airways' entry decisions into non‐stop domestic US airport‐pair markets. Adopting duration models, we find that JetBlue consistently avoided concentrated airports and targeted concentrated routes; network economies also affected entry positively. For non‐stop entry into routes that have not been served directly before, our analysis reveals that the carrier focused on thicker routes and secondary airports. Non‐stop entry into existing non‐stop markets, however, shows that JetBlue concentrated on longer‐haul markets and avoided routes already operated by either other low‐cost carriers or network carriers under bankruptcy protection. Copyright © 2012 John Wiley & Sons, Ltd. 相似文献
22.
Pervasive overbidding represents a well-documented feature of all-pay auctions. Aggregate bids exceed Nash predictions in laboratory experiments, and individuals often submit bids that guarantee negative profits. This paper examines three factors that may reduce pervasive overbidding: (a) repetition (experience), (b) reputation (strangers vs. partners), and (c) active participation. Reputation and repetition reduce aggregate overdissipation, but they eliminate it only in conjunction with active participation. 相似文献
23.
We propose a model that can capture the typical features of multivariate extreme events observed in financial time series, namely, clustering behaviors in magnitudes and arrival times of multivariate extreme events, and time-varying dependence. The model is developed within the framework of the peaks-over-threshold approach in extreme value theory and relies on a Poisson process with self-exciting intensity. We discuss the properties of the model, treat its estimation, and address testing its goodness-of-fit. The model is applied to the return data of two stock markets. 相似文献