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
Bijan Vasigh is Professor of Economics and Finance in the College of Business at Embry-Riddle Aeronautical University, Daytona Beach, Florida. He received a Ph.D. in Economics from the State University of New York, and has published many articles concerning the aviation industry.
Ken Fleming received his Ph.D. from the University of California at San Diego in August 1978 with specialties in Econometrics and Public Finance. He received his M.A. in Economics from the University of California at Los Angeles in June 1969.
Thomas Tacker is Professor of Economics and the Chair of the Department of Economics, Finance and Information Systems at Embry-Riddle Aeronautical University. He received his Ph.D. from the University of North Carolina, Chapel Hill, and his B.S. in Business Administration from Embry-Riddle.
'A vital text in the arena of air transport economics. Readers will not only understand how the processes of economics are utilised in the aviation industry, but will also be able to relate these ideas to that of up-to-date case studies in a concise, well written and relevant to degree studies fashion.' Simon Faulkner, Aviation and Airport Management Lecturer, University College Birmingham, UK
'A valuable book for our Masters students, Introduction to Air Transport Economics is a valuable desk resource for aviation managers, in the latest edition, as our industry is rapidly changing.’ Captain Tilmann Gabriel, Director of Aviation Masters Programmes, City University of London, UK