Introduction To Air Transport Economics (from Theory To Applications)

By (author) Vasigh Bijan; By (author) Fleming Ken; By (author) Tacker Thomas
Short description/annotation
Here is a comprehensive textbook that applies economic theory to all aspects of the aviation industry. Extensively updated throughout, it features new coverage of macroeconomics for managers, expanded analysis of modern revenue management and pricing decisions, and also reflects developments that have occurred since the original’s publication.
Description

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. Its integrative approach offers a fresh point of view that will find favor with many students of aviation.

This 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 practice as well as a discussion of the more up-to-date computer applications that make the new techniques so effective.

This 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.

Table of contents

List of figures List of tables About the authors Foreword Preface to the third edition Acknowledgements 1 Advancement of the air transport industry 2 Principles of economics with applications in the air transport industry 3 Supply, demand, and elasticity: analysis in the airline industry 4 Cost and production analysis: the general concepts 5 Operations and ownership 6 International economics and aviation 7 Open skies and global alliances 8 Competitive market structure and monopolistic markets 9 Hybrid market structure and the aviation industry 10 Forecasting in the air transport industry 11 Dynamic pricing policy and revenue management 13 Economics of aviation safety and security Glossary of terms Abbreviations Answers to selected questions and problems Index

Review quote

''This is the book for anyone who wants to know what drives the behavior in air transport markets, of customers, suppliers, the airlines themselves, and even the governments that regulate the industry. Bijan Vasigh, Ken Fleming, and Thomas Tacker showed, in the first edition of this book, that looking at the air transport industry with an economist’s perspective gives the reader important insights into many of the issues that make aviation so fascinating. We are given the opportunity to see through the eyes of three distinguished economists, from one of the leading universities specializing in aviation. That opportunity will be well worth taking in this second edition.’ Brian Pearce, International Air Transport Association, Switzerland

From the Foreword to the second edition. Comments on the first edition:

''This is a landmark textbook in airline economics as, for the first time, disparate information from various economic disciplines is integrated with key institutional factors that affect the industry. Basic material is presented in an easy-to-read and understand format with plenty of real-world situatio