The Evolution of the Airline Industry

I will admit that this book is not for everyone. The casual airline enthusiast may have some difficulty sifting through the econometrics. This book is written more for academics. However, the concise, clear, well-written style leads me to no other conclusion but to rate this as an excellent book. The hypotheses are clear. The data is explained. Economic reasoning is used to posit their point. If you wish to know how economists look at and measure deregulation, then this book is a good choice. Indispensable for grad students in economics studying transporattion and/or regulatory issues.

This is the Author's second book on the subject, and both books are excellent (they have written numerous journal articles on the subject). Their treatment of air fares and hubs is particularly good. Their bottom line findings: deregulation has increased economic welfare, and the financial turbulence the industry faced in the early 90 was the result of an oversupply of equipment (the major carriers didn't forecast the impending recession and consequently ordered too many planes). I highly recommend this book it is very well researched.