FROM CLOSED SET TO OPEN SET DEREGULATION: AN ASSESSMENT OF THE U.S. AIRLINE INDUSTRY
Logistics and transportation reviewPublished 1 March 1992
John R. Meyer, Judith Strong
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Abstract
Airline industry performance has been shaped by sustained growth, technological change, and varying aspects of governmental oversight. In the U.S., deregulation initially was of a closed set nature, with competition limited to existing carriers and with residual economic regulation. Subsequently, open set deregulation emerged characterized by rapid entry and exist and little economic regulation. Industry prospects depend on financial performance, especially for capital investment, and public policy toward mergers, infrastructure, and international competition.
Keywords
Economics, Econometrics and FinanceBusiness, Management and Accounting