April 12, 2017
When airlines overbook flights, they just need to recognize the power of the market and pay passengers high enough prices (vouchers) for their seats.
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.