Share
Dynamics and Equilibrium in a Structural Model of Commercial Aircraft Ownership
United States Federal Trade Commission
(Author)
·
Createspace Independent Publishing Platform
· Paperback
Dynamics and Equilibrium in a Structural Model of Commercial Aircraft Ownership - Federal Trade Commission
Choose the list to add your product or create one New List
✓ Product added successfully to the Wishlist.
Go to My Wishlists
Origin: U.S.A.
(Import costs included in the price)
It will be shipped from our warehouse between
Monday, July 29 and
Wednesday, August 14.
You will receive it anywhere in United Kingdom between 1 and 3 business days after shipment.
Synopsis "Dynamics and Equilibrium in a Structural Model of Commercial Aircraft Ownership"
This book develops and estimates a dynamic equilibrium model of the market for commercial aircraft. Airline choices are modeled as the solution to a discrete time dynamic programming problem, where in each period, each airline chooses one or more of various models of new and used aircraft. In equilibrium aircraft prices are such that no airline would benefit from buying, selling, trading or scrapping aircraft. The parameters of the model are estimated by maximum simulated likelihood using a new dataset that contains all aircraft transactions made in the twenty-year period 1978-1997. The transaction data is merged with a dataset containing aircraft prices. The estimated model is used to show that a 10 percent investment tax credit on the purchase of new aircraft has only a small effect on airline behavior and that the demand for new durable goods is more elastic than previous studies have shown. In addition, forcing the modernization of older aircraft causes U.S. airlines to reduce the number of older aircraft they operate by approximately 4 percent, and it is shown that the new aircraft are the poorest substitute for older aircraft.
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
All books in our catalog are Original.
The book is written in English.
The binding of this edition is Paperback.
✓ Producto agregado correctamente al carro, Ir a Pagar.
