Crisis in the Cockpit? The Role of Market Forces in Promoting Air Travel Safety

Abstract

This article examines the brand-name effect of airline crashes. These disasters raise several financial issues. A crash represents the loss of a plane, the loss of lives, the loss of scheduling capacity, higher insurance costs, and the potential loss of consumer goodwill. This article focuses on the last of these. Are consumers reluctant to fly with airlines that have poor safety records or do they treat crashes merely as random events that bear no reflection on the quality of the airline?

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