Airline Pricing Mysteries

Everyday Economics: The Coase Theorem has a market-based solution for the airline seat reclining problem that is a negative externality.
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  1. Jon Manning says:

    Nice article. Here’s another mystery solved. There is no such thing as “the invisible hand” or “the market sets the price”. People (like me) set prices for a living. But price elasticity is a mystery. Its like the abominable snowman: no ones really sure if they’ve seen it or not!

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