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The Effects of Deregulation on U.S. Air Networks (Paperback, Softcover reprint of the original 1st ed. 1992)
Loot Price: R1,517
Discovery Miles 15 170
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The Effects of Deregulation on U.S. Air Networks (Paperback, Softcover reprint of the original 1st ed. 1992)
Series: Advances in Spatial and Network Economics
Expected to ship within 10 - 15 working days
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1. 1 A Brief History of U. S. Commercial Aviation Regulation and
Deregulation The U. S. commercial aviation industry was regulated
by the government for a period of 40 years, beginning in 1938 with.
the passing of the Federal Aviation Act, and ending in October 1978
when President Carter signed into law the Airline Deregulation Act
(ADA). There were 16 airlines in existence when the Federal
Aviation Act was passed in 1938 (the so-called 'trunk lines'). The
Act established the Civil Aeronautics Authority (CAA) as the
industry's regulatory body. The Act was passed principally because
it was felt that the free market, if allowed to continue
unregulated for much longer, would put many of these firms into
bankruptcy. It is possible therefore to view the CAA of 1938
(re-organized into the Civil Aeronautics Board (CAB) in 1940) as a
response to a potential market failure at the time. In the 1930s,
few air traffic markets could have efficiently"supported more than
one airline operating in the market [Panzar (1980)]. Competition
among the carriers was cut-throat, and it was felt that the near
bankruptcy of the airlines in the period was caused principally by
the competitive bidding system used by the Post Office in allotting
airmail subsidies [Keeler (1972), Caves (1962)].
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