Competition and regulatory policy: 2012

This paper provides a short introduction to the papers in the special section below on economic regulation in infrastructure industries. The papers are from the CCRP Research Workshop held at City University, London in January 2012. The topics covered include (i) supply-side competition for airports (Bilotkatch and Mueller); (ii) resource cost pricing in the water supply industry and how best to establish the value of water (Stern and Mirrlees-Black); and (iii) the role and regulation of hydro pumped storage for electricity in an environment where the role of intermittent renewable generation is growing (Rangoni)

Dynamic Price Discrimination in Airlines

Prices for the same flight change substantially depending on the time of purchase. Labeling this time-variation as discriminatory is misleading because the cost of an unsold airline seat changes with inventory, days before departure and aggregate demand expectations. This paper uses a unique dataset with round-the-clock posted fares to identify a dynamic price discrimination component. Consistent with agents forming expectations of future prices, we find higher prices during office hours (when business travelers are likely to buy tickets) and lower prices in the evening (when leisure travelers are more likely to purchase). As the proportion of business travelers increases closer to departure, both price dispersion and price discrimination become larger. We also find that price discrimination is more pronounced for low cost carriers than for legacy carriers

Actual aspects of organic agricultural development in Ukraine

The monograph presents a conceptual analysis of the development of all sectors of organic production in Ukraine, the problems of sustainable increase in the efficiency of agrobiocenoses, the economic aspects of the formation of organic production according to European standards, and the analysis of opportunities for the agrarian sector. The approaches to the application of new methods and tools in organic production are described. The monograph is prezented for specialists, employments of the agrarian sector, scientists, professors, students and masters, all those who are interested in the specified range of questions that are being analyzed