An airline’s overbooking solutions can be called a Dutch auction when fliers decide what their ticket is worth.
The Problem With Sand
If we have a sand shortage, Olympic beach volleyball, new homes and roads, fracking, water filtration, and so much more will be affected.
How the Power of the Market Makes Airline Passengers Happy
When airlines overbook flights, they just need to recognize the power of the market and pay passengers high enough prices (vouchers) for their seats.
Getting Bumped Off Your Flight
Instead of command and control, a reverse auction or a Coasian solution would provide better ways to manage overbooked flights and bumped passengers.