Liu, Haoming; Zeng, Jinli - In: Applied Economics 39 (2007) 14, pp. 1773-1781
After the 11 September tragedy, 20% of the scheduled US airline flights were cancelled and the passenger load factor was down to 56% from 66.6% a year ago. Was the high death toll or the nature of the attack itself responsible for this dramatic decline? Using the US data, we find that the demand...