|
|
The Key Determinants of Plane Ticket Price Dispersion
Vlčková, Radka ; Kučera, Adam (advisor) ; Čechová, Kristýna (referee)
This thesis examines the plane tickets price development using both descriptive evidence and econometric analysis. The observed phenomenon of rising and falling fares in period close to departure is described and compared with the extensively developed theories, such as demand utilization and stochastic peak load pricing. Studying the fares observed on European routes using descriptive evidence revealed that the airlines accommodate fast to the uncertain demand. In the econometric part, the key factors influencing the price dispersion are determined. The contribution of this thesis is mainly in the econometric approach, as the price fluctuations are measured weekly using the coefficient of variation. This made it possible to compare how the different flight or market characteristics affect price dispersion in different week to departure. It was shown that number of sold seats, the load factor, is the crucial factor.
|
|
|
The Key Determinants of Plane Ticket Price Dispersion
Vlčková, Radka ; Kučera, Adam (advisor) ; Čechová, Kristýna (referee)
This thesis examines the plane tickets price development using both descriptive evidence and econometric analysis. The observed phenomenon of rising and falling fares in period close to departure is described and compared with the extensively developed theories, such as demand utilization and stochastic peak load pricing. Studying the fares observed on European routes using descriptive evidence revealed that the airlines accommodate fast to the uncertain demand. In the econometric part, the key factors influencing the price dispersion are determined. The contribution of this thesis is mainly in the econometric approach, as the price fluctuations are measured weekly using the coefficient of variation. This made it possible to compare how the different flight or market characteristics affect price dispersion in different week to departure. It was shown that number of sold seats, the load factor, is the crucial factor.
|
|
|
Empirical Essays in Institutional Microeconomics
Schwarz, Jiří ; Bauer, Michal (advisor) ; Benáček, Vladimír (referee) ; Bjørnskov, Christian (referee) ; Berggren, Niclas (referee)
The dissertation consists of three empirical papers in institutional microeconomics. The first paper examines the role of institutional quality in international trade, the second paper focuses on unintended consequences of intellectual property rights for social welfare, and the last one addresses the impact of banking on corporate financing and investment. An introductory chapter puts these three papers into perspective. In the first paper I analyze the role of institutions in price dispersion among cities in the European region in the 1996-2009 period. Using a number of institutional quality measures I find that the better the institutions, the lower the predicted dispersion. The result is robust to different specifications of the regression model and is consistent with a hypothesis that arbitrage, as an entrepreneurial activity and the main power behind the law of one price, is influenced by institutional quality. In the second paper I use a large data set of U.S. patents applied for between 1980 and 2007 by 22 large technology companies to study development of strategic patenting over time and across industries. Using two complementary methods I reveal strong evidence against the hypothesis of more strategic patenting after 1995. Contrary to the expectations, aerospace patents appear to be on average...
|
guest ::
