时   间：2023年12月19日（周二） 15:30-17:00

地   点：管理学院思源楼326室

题   目：The Heterogeneous Effects of Airline Joint Ventures on Connecting Markets

主讲人：张印琦     对外经济贸易大学助理教授

主持人：伏啸  助理教授

摘   要：

We study the impact of a joint venture (JV) on connecting markets in the international airline industry. Our theoretical analyses show that a JV mostly reduces the prices of codeshare itineraries (i.e., itineraries that combine flights offered by different carriers) by eliminating double marginalization and increases the prices of online itineraries (i.e., itineraries operated by the same carrier) offered by one or both of the JV partners in the same market. These effects also depend on the network of complements and substitutes in a market. Since all itineraries, which may combine multiple carriers' flights, are substitutes for each other, the JV has incentives to raise the prices of online itineraries to divert consumers toward codeshare itineraries with eliminated double margins, which may partially offset the price reductions in codeshare itineraries. In a network where both JV partners have online itineraries, the JV can also eliminate the competition between the partners, further enhancing the price increases in online itineraries and offsetting the price decreases in codeshare itineraries. By studying the JV between Aeromexico and Delta Air Lines, we empirically evaluate the JV's impact on itineraries in markets with different networks. Our findings are consistent with our theoretical predictions, providing new evidence about the heterogeneous effects of a JV on connecting markets. Some conditions to identify the markets where a JV tends to reduce consumer surplus are also discussed.

主讲人简介：

张印琦，对外经济贸易大学助理教授，博士毕业于美国南加利福尼亚大学经济学系，主要研究方向为产业经济学。他近期主要致力于多产品企业竞争和定价策略的理论研究，并结合国际航空业的数据来验证理论模型中的结论。研究成果发表在《Transportation Research Record》期刊。曾主持美国交通部研究基金一项（Airport Cooperative Research Program）。