Student's vacation travel: a reference dependent model of airline fares preferences

A.B. Grigolon, A.D.A.M. Kemperman, H.J.P. Timmermans

Research output: Contribution to journalArticleAcademicpeer-review

3 Citations (Scopus)
1 Downloads (Pure)

Abstract

This article reports the results of student vacation travel choice analysis using a reference dependent model of airline fare preferences. Findings suggests, as expected, that the preferences/utility decreases with increasing levels of cost. The evaluation of the airfare, however, becomes significantly more critical in the regime were low-fare airlines are more expensive than the regular airlines, meaning that price sensitivity for low-fare airlines is higher in this case. Part-worth utility functions for airfare as part of a more general portfolio model of vacation decisions of students suggest that indeed a reference dependent model captures such regimes in utility space.
Original languageEnglish
Pages (from-to)38-42
Number of pages5
JournalJournal of Air Transport Management
Volume18
Issue number1
DOIs
Publication statusPublished - 2012

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