Introduction to Air Transport Economics

Introduction to Air Transport Economics: From Theory to Applications uniquely merges the institutional and technical aspects of the aviation industry with their theoretical economic underpinnings. Its integrative approach offers a fresh point of view that will find favor with many students of aviation.

This third edition has been extensively updated throughout. It features new material that stresses the dynamic aspects of demand and supply and the ongoing competitive aspects of the marketplace. It now features an introductory chapter, and specific examples, to more directly relate management decisions to the economic theory. Also, in addition to an expanded coverage of revenue management and pricing decisions, the third edition includes case studies that give real-world examples to reflect actual industry practise as well as a discussion of the more up-to-date computer applications that make the new techniques so effective.

This book offers a self-contained theory and applications-oriented text for any individual intent on entering the aviation industry as a practicing professional in the management area. It will be of greatest relevance to undergraduate and graduate students interested in obtaining a more complete understanding of the economics of the aviation industry. It will also appeal to many professionals who seek an accessible and practical explanation of the underlying economic forces that shape the industry.

Bijan Vasigh is Professor of Economics and Finance in the College of Business at Embry-Riddle Aeronautical University, Daytona Beach, Florida. He received a Ph.D.in Economics from the State University of New York, and has published many articles concerning the aviation industry. The articles were published in numerous academic journals, including the Journal of Economics and Finance, Journal of Transportation Management, National Aeronautics and Space Administration (NASA) Scientific and Technical Aerospace Reports, Transportation Quarterly, Airport Business, Journal of Business and Economics, and Journal of Travel Research. He has been quoted in major newspapers and magazines around the world. In 2006, his paper, "A Total Factor Productivity Based for Tactical Cluster Assessment: Empirical Investigation in the Airline Industry," was awarded the Dr. Frank E. Sorenson Award for outstanding achievement of excellence in aviation research scholarship. Bijan is the author of Aircraft Finance: Strategies for Managing Capital Costs in a Turbulent Industry, and The Foundations of Airline Finance: Methodology and Practice.

Dr. Fleming received his Ph.D. from the University of California at San Diego, August 1978 with specialties in Econometrics and Public Finance. He received his M.A., in Economics from the University of California at Los Angeles, in June 1969. A former military pilot with over 3,000 hours in 11 different aircraft, he holds an FAA Commercial Pilot Airplane Single and Multi-engine Instrument Rating. Dr. Fleming was the leader of a group of 15 research analysts and computer programmers who actively participated in applied Aviation research projects with Boeing, NASA, and the FAA and he has been the principal author or co-author of over 20 reports and articles including two textbooks during the past 15 years; these publications have dealt with all aspects of the economics of the aviation industry.

Thomas Tacker, Ph.D. is Professor of Economics and the Chair of the Department of Economics, Finance and Information Systems at Embry-Riddle Aeronautical University. He received his doctoral degree from the University of North Carolina, Chapel Hill and his B.S. in Business Administration from Embry-Riddle. Funded research includes NASA grants for study on: The Future Supply of SATS Pilots, The Economic Benefits of SATS in U.S. Labor Markets, and The Future Supply of SATS Aircraft.