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71.
This article extends the price discrimination literature and applies it to market definition and competitive effects analysis in recent mergers in the cruise line industry. In that industry, short run output is fixed. If firms want to increase price and restrict output to price‐insensitive customers, they have to increase the output and lower price to the price‐sensitive customers. We show that with fixed output (1) it is in firms’ interest to engage in price discrimination, (2) firms have increased ability to engage profitably in price discrimination as the intensity of competition decreases, and (3) the average price of price‐sensitive and ‐insensitive consumers increase with reduced competition. Unlike the economists at the Federal Trade Commission, our analysis suggests that cruise lines engage in third‐degree price discrimination. Moreover, the cruise industry could be a separate market and a reduction in the number of competitors might raise average prices. 相似文献
72.
Surprisingly, despite extensive research on the impacts of COVID-19 on the hospitality industry, no study develops financial performance benchmarks that reflect these effects. This research seeks to fill this gap by examining the financial performance of companies in the shipping sector, specifically the cruise sub-sector. The "three biggest players" in the sector are the focus of this analysis. Benchmarking is essential for both existing market participants and potential new entrants. Fuzzy methods are used in modeling situations that involve uncertainty. The findings indicate that the three companies' operations must be redesigned in order to produce income and pay off debts. Additionally, Carnival Corporation's resilience is evident in times of crisis, as it demonstrates the best growth prospects, remains dominant in terms of liquidity, presents the highest return on assets, and borrows less than the other two companies. 相似文献
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