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La elasticidad precio de la demanda de transporte aéreo de pasajeros en los Estados Unidos

The price elasticity of demand for air travel in the United States

Ignacio Escañuela Romana ()

MPRA Paper from University Library of Munich, Germany

Abstract: The object of this work is to estimate the price elasticity of demand for air transport of passengers in the United States, and review the adequacy of the various methods used to make a quantification of the elasticity of demand for a good or service. The problems to make a robust quantification of that value are classic and well-known. There are omitted variables, on both the demand and supply sides, and the problem of identifiability seems to be serious. The simple regression, which is the most common method, is analyzed. As well as the method of instrumental variables: using the price of oil. But the conclusion reached is that those procedures yield unreliable results. Through the quasi-experimental procedure, I get an estimate of the price elasticity of demand, with the drawback that includes the ability to switch between air routes. It offers a close, reliable quantification of the demand for air routes. Finally, harmonic analysis does suggest a value of the elasticity for the market as a whole. Both methods would give a solution to this econometric problem.

Keywords: Elasticidad; demanda; identificación; estimación (search for similar items in EconPapers)
JEL-codes: C13 C29 D12 D43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-tre
Date: 2018-01-02
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