August 2, 2022
An airline's overbooking solutions can be called a Dutch auction when fliers decide what their ticket is worth.
An airline's overbooking solutions can be called a Dutch auction when fliers decide what their ticket is worth.
If we have a sand shortage, Olympic beach volleyball, new homes and roads, fracking, water filtration, and so much more will be affected.
When airlines overbook flights, they just need to recognize the power of the market and pay passengers high enough prices (vouchers) for their seats.
Instead of command and control, a reverse auction or a Coasian solution would provide better ways to manage overbooked flights and bumped passengers.