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To obtain some limited price data, choose any city-pair and two competing airlines. A network and low-cost-carrier make an interesting comparison, but any airlines of interest are acceptable. For each airline, obtain the 4 prices for a typical round-trip itinerary with bookings 1 day in advance, and then for 1, 2 and 4 weeks in advance of the departure date. Itineraries with closer departure dates are more likely to be purchased by business travelers. Leisure travelers, on the other hand, usually book well in advance of the travel date. To isolate the effects of advance purchase, the itineraries should depart and return the same days of the week at approximately the same times of day. Try to avoid the influence of holidays or other seasonal effects on demand. Use the airlines' websites for all fare information. In a short paper, first explain the theory of 3rd degree price discrimination as it applies to the airline industry including a graphical model. Explain how and why airlines would choose to practice price discrimination. Next, discuss your research methodology including the choice of airlines, the itinerary, and source data. Then, present the data. A simple table may be the best method for showing the itineraries and fares. Finally, discuss whether the data provide evidence of price discrimination. Draw appropriate conclusions.
Two countries, Richland and Poorland, are described by the Solow growth model. They have the same production function F(K,N) = KaN1-a. Richland saves 32% of its income, Poorland saves 10%. Richland has a population growth rate of 1% per year, P..
Consider a Stackelberg game of quantity competition between two firms. Firm 1 is the leader and firm 2 is the follower. Market demand is described by the inverse demand function p = 100 ? 2Q.
Describe and critically evaluate the use of real GDP and the unemployment rate to track macroeconomic performance over the business cycle. Discuss current data on these variables.
How do countries use tariffs to increase revenues or protect industries - How do they affect exports?
Briefly explain how and why adding government spending shocks to the baseline Real Business Cycle model helps to improve its empirical performance. How do the results depend on the substitutability between private consumption and government purch..
How to calculate first degree price discrimination problems?
2.One dollar currently buys 3 pounds on the foreign exchange market. In a week's time it is expected to buy 5 pounds. Is the dollar expected to appreciate or depreciate with respect to the pound? Answer the same question assuming that the doll..
Will there be any difference in the set of variables used in the regression model of demand for durables consumers (cars, appliances, furniture) and a regression model of the demand for "goods FMCG" (meals, beverages, personal care products)? Explain..
How are oil and natural gas though to be formed and How can these substances be extracted from the seabed? Why are the physical characteristics of the surrounding rock important?
Some economists have called for a return to the gold standard (as a reminder, this would mean that every dollar would be backed by a certain amount of gold and, therefore, the money supply would be determined by the amount of gold owned in the countr..
The price of a stock is determined by the demand for and supply of that stock. Both demand and supply depend on investors' expectations of the future performance - future economic profits - of the firm.
What are the two major definitions of IRR? What is the re-investment assumption of this model, and how does that compare to that of the NPV model?
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