Cost, Risk-Taking, and Value in the Airline Industry
作者： Paul A. Laux , He Yan , Chi Zhang
DOI: 10.1007/978-3-642-55382-0_2
关键词:
摘要: This chapter develops empirical measurements of the shape airline firms’ cost functions as they relate to price variation oil-based inputs and outputs during 1998–2009 periods. Using estimates, we assess value-added potential for hedging risk taking with respect oil prices. We find reasons believe that fuel costs derivatives is somewhat limited on average, but it varies across business cycle. Our evidence helps explain why, although many airlines hedge, also do not why incomplete, intensity over time within airlines.
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