High-speed rail and air transport competition under high flight delay conditions in China: A case study of the Beijing-Shanghai corridor |
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| Affiliation: | 1. School of International Trade and Economics, University of International Business and Economics, Beijing, China;2. School of Economics and Management, Beihang University, Beijing, China;1. Sauder School of Business, University of British Columbia, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada;2. China Academy of Financial Research, Shanghai Jiao Tong University, China |
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| Abstract: | Flight delays have become a widespread phenomenon in many parts of the world, especially in China. Few studies have investigated the effect of high flight delays on the competition between high-speed rail (HSR) and air transport (AT). A model based on the applied game theory is developed to obtain the optimal strategies of the two players in equilibrium. Results reveal that the revenue created by HSR and AT have gradually decreased as the flight delay rate increases. Moreover, if the flight delay rate exceeds 30%, the HSR operator will receive more revenue by implementing fare discounts strategies. |
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| Keywords: | Competition Quadratic programming model Applied game theory |
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