2009 Fiscal Year Final Research Report
Quantitative analysis on Airlines Merger in Japan
| Project/Area Number |
20730150
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Applied economics
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| Research Institution | The University of Tokyo |
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Principal Investigator |
OHASHI Hiroshi The University of Tokyo, 大学院・経済学研究科, 准教授 (00361577)
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| Project Period (FY) |
2008 – 2009
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| Keywords | 航空産業 / 企業合併 / 構造推定 |
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| Research Abstract |
This project has studied ex-post quantitative analysis on the JAL-JAS merger that took place in 2001. It employed a structural estimation method to assess the extent to which the merger affected the structure of the Japanese domestic airline market, by use of the data in the period from July 1996 to October 2005. The model used in the analysis takes into account inter-modal competition between airlines and super-speed trains, and also allows for firms to choose not only prices but also fights frequency. The endogeneity is controlled by the use of instrumental variables. The estimation of discrete choice model at the level of origin and destination pair reveals that the merger under study was not very successful, in that JAL would have been more profitable and the social welfare would have been improved in the absence of the merger.
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