How Airline Markets Work...Or Do They? Regulatory Reform in the Airline Industry

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Air Transport Liberalization and Its Impacts on Airline Competition and Air Passenger Traffic (2009, background): “7 Borenstein and Rose (2007) found that between 1976 and 1986, the U.S. average domestic passenger yield declined in real terms at a rate of 3.4% per year, while revenue passenger miles increased at a rate of 8.2% per year.”