Airline Competition & Game Theory

From the Paper:

"ABSTRACT
One research question was addressed in this study. That question is as follows: "Can the competitive behavior of air transportation companies in the United States market in relation to setting fares be explained as an application of game theory?"
Game theory, as applied in the airfare wars. forecasts how competitors will respond when confronted with certain competitive situations. When formulating business strategy, no company can afford to ignore how competitors will behave. Game theory is based on the premise that in any competitive situation there are factors at work which lend themselves to mathematical representation and analysis. In turn, these representations and analyses will help explain how a result will occur.
The findings of this research indicate that the airfares competition gives the appear.."

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