無論大型航空公司 (AA、UA、DL、WN)，抑或是小型航空公司 (B6、NK、
SY 等) 皆於此類型市場提供許多航線服務，也因其最競爭，票價是所有類型
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爭對手間的碰面次數時，觀察不到明顯的競爭行為，彼此會相互箝制，而不敢 做競爭，但若對手間有人合作，則航空公司會願意一起提高價格。但在第二期 時，因為航空公司家數較少，每增加一次碰面次數相比第一期來說影響力大很 多，彼此箝制力量大，因而無論是最大的 1000 個市場或是大小城市之間往返 的市場，多重市場接觸越多，彼此越傾向合作，使價格離散程度越大。而在最 小的小城市間往返的市場，因多為大家航空公司提供服務，且市場需求少，獨 佔市場多，因此兩期在其他市場的競爭行為，相對不會影響此類型市場的競爭 策略。
此外，無論第一期或第二期，相較於市佔率，多重市場接觸與價格的 關係較大，且併購案發生後 (第二期)，航空公司採取隱性勾結的行為所能提高 的價格約為併購案發生前 (第一期) 的五倍。因而可知，相對於不斷擴張自己 的勢力範圍，與對手間的競爭關係應是航空公司做決策時要考慮的重要因素。
但因本文未考慮多重市場接觸以及市佔率的內生性問題，可能產生估 計上的偏誤，且僅考慮靜態下航空公司間的競爭行為，但在實際情況下，在不 同的時間點，航空公司的訂價行為不同，且兩種衡量多重市場競爭的方式僅能 概要的描述競爭行為，因此未來可找尋有效的工具變數，並可討論動態競爭或 是建構理論模型，探討競爭行為如何影響價格的變化，使研究更完善。
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Gimeno, Javier and Carolyn Y. Woo. 1996. “Hypercompetition in a Multimarket Environment: The Role of Strategic Similarity and Multimarket Contact in Competitive De-Escalation.” Organization Science 7 (3):322–341.
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Mazzeo, Michael. 2003. “Competition and Service Quality in the U.S. Airline Industry.” Review of Industrial Organization 22 (4):275–296.
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Zou, Li, Chunyan Yu, and Martin Dresner. 2012. “Multimarket contact, alliance membership, and prices in international airline markets.” Transportation Re-search Part E: Logistics and Transportation Review 48 (2):555–565.
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附錄
第 A.1 節 多重市場接觸之計算方式
圖 7: 多重市場接觸舉例圖
假設在 t 期下有五個市場，分別為 mkt1 至 mkt5，總共有五家航空公司在五 個市場服務，其中 mkt1 市場中服務的航空公司有 AA、UA、WN。由此可 知，AA 和 DL 共存在在 4 個市場、UA 和 WN 共存在 3 個市場、B6 共存在 2 個市場。
表 A1: mkt1 下的 mmckh 和 pct_mmckh
kh mmc pct_mmc kh mmc pct_mmc AAUA 2 1/2 UAAA 2 2/3 AAWN 2 1/2 WNAA 2 2/3 UAWN 2 2/3 WNUA 2 2/3
表 A1是以 mkt1 市場為例子，計算出的多重市場接觸。並假設 AA 的 市占率為 0.3、UA 的市占率為 0.2、WN 的市占率為 0.2。以下將詳述在 mkt1 下，七種計算多重市場接觸的結果。
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avg_contact
1t= 13× 2[(2 + 2) + (2 + 2) + (2 + 2)] =12
6 = 2 (A-1)
pct_contact
1t= 1 3× 2max_pct_contact
1t= 1 3× 2weighted_pct_contact
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ZY D_MMC
U A1t = 23 + 4+ 2 3 + 3 2 =13
42 = 0.30 (A-12)
ZY D_MMC
W N 1t= 23 + 4+ 2 3 + 3 2 = 13
42= 0.30 (A-13)
第 A.2 節 結果之表格
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表A2:第二期(所有市場資料):多重市場接觸以
av g
_co nt ac t
mt衡量之結果 ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10 avg_contactmt/10000.0174***0.00594***0.0313***0.0254***0.0205***0.0178***0.0153***0.0150***0.0132***0.00982***0.00486* (9.90)(11.59)(14.22)(12.63)(10.66)(9.59)(8.59)(8.15)(6.89)(4.88)(2.13) Hubjmt0.118***0.00364*0.171***0.189***0.194***0.181***0.164***0.143***0.130***0.124***0.116*** (19.67)(2.09)(22.92)(27.70)(29.63)(28.61)(27.06)(22.92)(20.10)(18.19)(15.01) Networksizejlt0.0982***0.120***0.356***0.211***0.123***0.0657***0.0261***-0.000602-0.0460***-0.0991***-0.182*** (16.07)(67.74)(46.58)(30.24)(18.49)(10.19)(4.23)(-0.09)(-6.95)(-14.20)(-22.97) Nonstopjmt-0.0350***0.0219***0.0388***0.0214***0.00498*-0.0107***-0.0238***-0.0350***-0.0492***-0.0643***-0.0825*** (-19.70)(42.30)(17.46)(10.54)(2.56)(-5.72)(-13.27)(-18.86)(-25.56)(-31.67)(-35.83) Roundtripjlt0.0699***-0.0344***0.01220.0844***0.104***0.108***0.106***0.105***0.109***0.126***0.148*** (7.71)(-13.04)(1.08)(8.15)(10.47)(11.26)(11.54)(11.16)(11.04)(12.17)(12.57) HHImt0.0861***-0.0377***-0.0281***0.0232***0.0556***0.0705***0.0835***0.0880***0.0992***0.121***0.147*** (16.39)(-24.65)(-4.27)(3.86)(9.69)(12.73)(15.74)(16.08)(17.42)(20.18)(21.58) Mktsharejmt0.0118***0.0987***0.294***0.184***0.116***0.0697***0.0301***0.00534-0.0349***-0.0929***-0.178*** (4.11)(118.16)(81.76)(56.14)(36.91)(22.99)(10.38)(1.78)(-11.20)(-28.31)(-47.94) MktSizemt-0.000000138***-2.39e-08***-0.000000179***-0.000000144***-0.000000112***-8.52e-08***-6.33e-08**-4.80e-08*-4.26e-08-4.26e-08-5.58e-08* (-6.58)(-3.91)(-6.82)(-6.02)(-4.88)(-3.85)(-2.99)(-2.19)(-1.88)(-1.78)(-2.06) ln_distancemt0.204*-0.01500.307*0.225*0.1920.1860.1860.295**0.298**0.341**0.348** (2.13)(-0.54)(2.57)(2.07)(1.83)(1.84)(1.92)(2.96)(2.88)(3.13)(2.81) _cons4.430***0.2724.010***4.383***4.454***4.351***4.227***3.335***3.260***2.921***2.901** (6.46)(1.36)(4.68)(5.60)(5.94)(6.01)(6.10)(4.66)(4.39)(3.73)(3.27) N148,697148,697148,697148,697148,697148,697148,697148,697148,697148,697148,697 *採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 *時間之虛擬變數、航空公司之虛擬變數皆包含在內模型內，未顯示於表格中。‧ 國
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表A3:第二期(所有市場資料):多重市場接觸以
P S
_M M C
jmt衡量之結果 ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10 PS_MMCjmt/10000.0268***0.00774***0.0441***0.0364***0.0313***0.0279***0.0253***0.0257***0.0240***0.0204***0.0162*** (13.91)(13.79)(18.27)(16.51)(14.82)(13.72)(12.98)(12.77)(11.49)(9.23)(6.47) Hubjmt0.118***0.00386*0.173***0.190***0.194***0.181***0.164***0.143***0.131***0.125***0.116*** (19.78)(2.22)(23.09)(27.84)(29.75)(28.71)(27.15)(23.00)(20.16)(18.22)(15.01) Networksizejlt0.0893***0.118***0.342***0.199***0.113***0.0564***0.0176**-0.00938-0.0543***-0.106***-0.188*** (14.50)(65.85)(44.38)(28.33)(16.81)(8.68)(2.82)(-1.46)(-8.14)(-15.12)(-23.57) Nonstopjmt-0.0354***0.0218***0.0383***0.0210***0.00458*-0.0111***-0.0242***-0.0353***-0.0496***-0.0647***-0.0828*** (-19.89)(42.16)(17.24)(10.33)(2.36)(-5.92)(-13.47)(-19.07)(-25.76)(-31.85)(-35.99) Roundtripjlt0.0743***-0.0331***0.01950.0904***0.109***0.112***0.110***0.110***0.112***0.129***0.150*** (8.19)(-12.55)(1.72)(8.73)(10.98)(11.74)(11.99)(11.60)(11.44)(12.48)(12.77) HHImt0.0894***-0.0366***-0.0222***0.0279***0.0595***0.0739***0.0865***0.0910***0.102***0.123***0.148*** (17.05)(-23.97)(-3.39)(4.66)(10.38)(13.36)(16.32)(16.64)(17.91)(20.55)(21.78) Mktsharejmt0.0145***0.0993***0.297***0.187***0.119***0.0725***0.0329***0.00833**-0.0318***-0.0900***-0.175*** (5.02)(118.40)(82.52)(56.92)(37.76)(23.85)(11.31)(2.77)(-10.19)(-27.34)(-46.95) MktSizemt-0.000000136***-2.38e-08***-0.000000177***-0.000000142***-0.000000109***-8.26e-08***-6.04e-08**-4.46e-08*-3.90e-08-3.86e-08-5.08e-08 (-6.48)(-3.90)(-6.74)(-5.94)(-4.77)(-3.74)(-2.85)(-2.04)(-1.72)(-1.61)(-1.87) ln_distancemt0.208*-0.01400.313**0.231*0.1960.1900.190*0.299**0.302**0.345**0.351** (2.17)(-0.50)(2.62)(2.11)(1.88)(1.89)(1.96)(3.00)(2.92)(3.16)(2.84) _cons4.385***0.2623.945***4.328***4.402***4.302***4.180***3.284***3.209***2.873***2.851** (6.40)(1.31)(4.60)(5.53)(5.88)(5.95)(6.04)(4.59)(4.32)(3.67)(3.21) N148,697148,697148,697148,697148,697148,697148,697148,697148,697148,697148,697 *採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 *時間之虛擬變數、航空公司之虛擬變數皆包含在內模型內，未顯示於表格中。‧ 國
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表A4:robustnesscheck ln
_
avg_
farejmtGjmtlnp90
lnp80
lnp70
lnp60
lnp50
lnp40
lnp30
lnp20
lnp10
avg_
contactmt/10000.0174*** 0.00594*** 0.0313*** 0.0254*** 0.0205*** 0.0178*** 0.0153*** 0.0150*** 0.0132*** 0.00982*** 0.00486* (9.90) (11.59) (14.22) (12.63) (10.66) (9.59) (8.59) (8.15) (6.89) (4.88) (2.13)
pct_
contactmt0.0649*** 0.0390*** 0.178*** 0.137*** 0.109*** 0.0904*** 0.0728*** 0.0654*** 0.0523*** 0.0286*** -0.00215 (10.42) (21.54) (22.86) (19.23) (15.97) (13.78) (11.58) (10.08) (7.75) (4.03) (-0.27)
max_
pct_
contactmt0.0427*** 0.0391*** 0.164*** 0.120*** 0.0935*** 0.0752*** 0.0581*** 0.0512*** 0.0381*** 0.0160* -0.0122 (7.35) (23.17) (22.66) (18.07) (14.73) (12.27) (9.90) (8.44) (6.05) (2.41) (-1.62)
weighted_
pct_
contactmt0.446*** 0.258*** 1.133*** 0.858*** 0.682*** 0.551*** 0.445*** 0.405*** 0.314*** 0.163*** -0.0355 (10.78) (21.43) (21.93) (18.18) (15.08) (12.63) (10.64) (9.40) (7.00) (3.44) (-0.66)
PS_
MMCjmt/10000.0268*** 0.00774*** 0.0441*** 0.0364*** 0.0313*** 0.0279*** 0.0253*** 0.0257*** 0.0240*** 0.0204*** 0.0162*** (13.91) (13.79) (18.27) (16.51) (14.82) (13.72) (12.98) (12.77) (11.49) (9.23) (6.47)
BK_
MMCjmt0.0296*** 0.0341*** 0.121*** 0.0836*** 0.0617*** 0.0487*** 0.0354*** 0.0305*** 0.0193** -0.00384 -0.0327*** (5.43) (21.51) (17.72) (13.43) (10.37) (8.48) (6.44) (5.37) (3.27) (-0.62) (-4.64)
ZYD_
MMCjmt0.194*** 0.0781*** 0.392*** 0.319*** 0.266*** 0.230*** 0.196*** 0.180*** 0.152*** 0.101*** 0.0353* (16.35) (22.65) (26.42) (23.57) (20.50) (18.37) (16.38) (14.57) (11.84) (7.47) (2.30)
*採用固定效果模型， *p<0.05 ， **p<0.01 ， p<0.001 。
*/時間之虛擬變數、航空公司之虛擬變數、常數皆包含在內模型內，未顯示於表格中。
*其他控制變數皆一致，因此省略，僅著墨於多重市場接觸和吉尼係數和不同分位價格的關係。
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表A5:第一期(所有市場資料):多重市場接觸以
av g
_co nt ac t
mt衡量之結果 ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10 avg_contactmt/10000.00913***-0.00192***0.0142***0.0141***0.0149***0.0176***0.0179***0.0205***0.0238***0.0242***0.0248*** (6.10)(-4.46)(7.35)(8.10)(9.01)(11.10)(11.92)(13.22)(14.78)(14.33)(12.95) Hubjmt0.0847***-0.00732***0.135***0.158***0.153***0.142***0.128***0.116***0.104***0.0957***0.0849*** (13.83)(-4.15)(17.10)(22.13)(22.63)(21.89)(20.79)(18.25)(15.82)(13.86)(10.83) Networksizejlt0.0155***0.122***0.296***0.153***0.0611***-0.00652-0.0494***-0.0754***-0.122***-0.182***-0.274*** (3.41)(93.15)(50.37)(28.87)(12.12)(-1.35)(-10.81)(-16.00)(-25.05)(-35.48)(-46.96) Nonstopjmt-0.0359***0.00819***-0.000268-0.00742***-0.0105***-0.0141***-0.0196***-0.0233***-0.0275***-0.0344***-0.0421*** (-25.44)(20.16)(-0.15)(-4.51)(-6.75)(-9.45)(-13.80)(-15.95)(-18.16)(-21.62)(-23.32) Roundtripjlt-0.0512***-0.0143***-0.0378***-0.0277***-0.0171*-0.0128-0.0135-0.0188**-0.0165*-0.004810.0282** (-7.43)(-7.20)(-4.25)(-3.46)(-2.25)(-1.76)(-1.95)(-2.64)(-2.24)(-0.62)(3.20) HHImt0.0627***-0.0650***-0.114***-0.0288***0.0144*0.0463***0.0669***0.0781***0.105***0.139***0.189*** (10.59)(-38.11)(-14.91)(-4.18)(2.19)(7.39)(11.24)(12.74)(16.49)(20.81)(25.01) Mktsharejmt0.0104***0.120***0.362***0.220***0.131***0.0711***0.0221***-0.00390-0.0519***-0.125***-0.251*** (4.16)(167.78)(112.65)(76.02)(47.48)(26.99)(8.83)(-1.51)(-19.43)(-44.60)(-78.76) MktSizemt-3.01e-08-1.09e-08*-5.19e-08*-6.54e-08**-5.97e-08**-7.04e-08***-5.95e-08**-4.21e-08*-3.61e-082.87e-095.34e-08* (-1.60)(-2.01)(-2.14)(-2.98)(-2.86)(-3.53)(-3.14)(-2.16)(-1.78)(0.13)(2.21) ln_distancemt0.177*-0.02760.329**0.314***0.249**0.1600.1240.1460.212*0.293**0.388*** (2.22)(-1.20)(3.19)(3.38)(2.82)(1.89)(1.55)(1.77)(2.47)(3.25)(3.79) _cons4.162***0.366*3.440***3.432***3.783***4.369***4.526***4.244***3.701***2.963***2.075** (7.32)(2.23)(4.69)(5.19)(6.01)(7.27)(7.92)(7.21)(6.07)(4.62)(2.85) N322993322993322993322993322993322993322993322993322993322993322993 *採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 *時間之虛擬變數、航空公司之虛擬變數、常數皆包含在內模型內，未顯示於表格中。‧ 國
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表A6:第一期(所有市場資料):多重市場接觸以
P S
_M M C
jmt衡量之結果 ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10 PS_MMCjmt/1000-0.0002920.00122**0.00821***0.00402*0.003230.00547***0.00530***0.00761***0.00994***0.00956***0.00981*** (-0.19)(2.83)(4.24)(2.30)(1.94)(3.44)(3.51)(4.90)(6.17)(5.64)(5.11) Hubjmt0.0852***-0.00751***0.135***0.158***0.154***0.142***0.129***0.116***0.105***0.0965***0.0856*** (13.92)(-4.26)(17.13)(22.20)(22.72)(21.99)(20.89)(18.35)(15.92)(13.96)(10.92) Networksizejlt0.0147**0.122***0.294***0.151***0.0595***-0.00856-0.0515***-0.0779***-0.125***-0.185***-0.277*** (3.23)(93.20)(50.03)(28.56)(11.80)(-1.78)(-11.25)(-16.52)(-25.66)(-36.06)(-47.48) Nonstopjmt-0.0355***0.00805***0.0000359-0.00694***-0.01000***-0.0135***-0.0190***-0.0227***-0.0268***-0.0337***-0.0414*** (-25.14)(19.82)(0.02)(-4.22)(-6.40)(-9.07)(-13.38)(-15.53)(-17.72)(-21.17)(-22.92) Roundtripjlt-0.0504***-0.0144***-0.0364***-0.0264***-0.0158*-0.0112-0.0118-0.0169*-0.0143-0.002520.0305*** (-7.32)(-7.27)(-4.09)(-3.30)(-2.07)(-1.54)(-1.71)(-2.37)(-1.93)(-0.32)(3.46) HHImt0.0541***-0.0620***-0.119***-0.0378***0.003910.0356***0.0558***0.0669***0.0929***0.126***0.176*** (9.09)(-36.20)(-15.48)(-5.45)(0.59)(5.66)(9.33)(10.86)(14.54)(18.82)(23.18) Mktsharejmt0.00786**0.121***0.360***0.218***0.128***0.0679***0.0188***-0.00728**-0.0555***-0.129***-0.255*** (3.15)(168.87)(112.11)(75.06)(46.33)(25.76)(7.50)(-2.82)(-20.77)(-45.94)(-79.94) MktSizemt-2.91e-08-1.12e-08*-5.11e-08*-6.42e-08**-5.84e-08**-6.90e-08***-5.81e-08**-4.06e-08*-3.44e-084.64e-095.52e-08* (-1.54)(-2.07)(-2.10)(-2.93)(-2.80)(-3.46)(-3.07)(-2.08)(-1.70)(0.22)(2.29) ln_distancemt0.178*-0.02760.329**0.315***0.250**0.1610.1250.1470.213*0.294**0.389*** (2.23)(-1.20)(3.20)(3.39)(2.83)(1.90)(1.56)(1.78)(2.49)(3.26)(3.80) _cons4.177***0.360*3.445***3.446***3.800***4.386***4.543***4.261***3.718***2.982***2.094** (7.35)(2.20)(4.70)(5.21)(6.04)(7.30)(7.95)(7.24)(6.09)(4.65)(2.88) N322,993322,993322,993322,993322,993322,993322,993322,993322,993322,993322,993 *採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 *時間之虛擬變數、航空公司之虛擬變數皆包含在內模型內，未顯示於表格中。‧ 國
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表A7:第一期不同市場下的對比：
av g
_co nt ac t
mtv.s.P S
_M M C
jmt avg_contactmt/1000ln_avg_farejmtG_jmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10observation top10000.00410.00737***0.0281***0.0219***0.0122*0.008220.00175-0.00140-0.00335-0.00916-0.0146*90,173 (0.76)(4.64)(4.01)(3.49)(2.04)(1.45)(0.32)(-0.25)(-0.59)(-1.52)(-2.11) 大小城市間往返的市場0.00765***-0.00394***0.00704*0.00801**0.00978***0.0131***0.0149***0.0191***0.0231***0.0257***0.0279***168,857 (3.39)(-5.97)(2.39)(3.02)(3.89)(5.48)(6.56)(8.18)(9.54)(10.13)(9.69) 小城市間往返的市場0.00714**0.00255***0.0159***0.00806**0.005350.00748**0.00803**0.0107***0.0147***0.0135***0.0116***63,963 (2.83)(3.85)(5.04)(2.78)(1.92)(2.79)(3.15)(4.03)(5.31)(4.67)(3.57) 所有市場0.00913***-0.00192***0.0142***0.0141***0.0149***0.0176***0.0179***0.0205***0.0238***0.0242***0.0248***322,993 (6.10)(-4.46)(7.35)(8.10)(9.01)(11.10)(11.92)(13.22)(14.78)(14.33)(12.95) PS_MMCjmt/1000ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10observation top1000-0.009980.0135***0.00256-0.00957-0.0178**-0.0195***-0.0233***-0.0264***-0.0304***-0.0399***-0.0475***90,173 (-1.83)(8.50)(0.36)(-1.52)(-2.99)(-3.43)(-4.29)(-4.77)(-5.31)(-6.58)(-6.85) 大小城市間往返的市場-0.00777***-0.000482-0.00227-0.00622*-0.00698**-0.00417-0.003390.0004740.003500.00532*0.00898**168,857 (-3.39)(-0.72)(-0.76)(-2.31)(-2.74)(-1.71)(-1.47)(0.20)(1.42)(2.06)(3.06) 小城市間往返的市場0.002160.00258***0.0102**0.00200-0.0004870.001750.002570.00563*0.00929***0.00905**0.00821*63,963 (0.86)(3.92)(3.26)(0.69)(-0.18)(0.66)(1.01)(2.13)(3.37)(3.14)(2.54) 所有市場-0.0002920.00122**0.00821***0.00402*0.003230.00547***0.00530***0.00761***0.00994***0.00956***0.00981***322,993 (-0.19)(2.83)(4.24)(2.30)(1.94)(3.44)(3.51)(4.90)(6.17)(5.64)(5.11) *採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 *時間之虛擬變數、航空公司之虛擬變數、常數皆包含在內模型內，未顯示於表格中。‧ 國
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表A8:第二期不同市場下的對比：
av g
_co nt ac t
mtv.s.P S
_M M C
jmt avg_contactmt/1000ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10observation top10000.0279***0.0102***0.0488***0.0425***0.0355***0.0312***0.0274***0.0252***0.0203***0.0120**-0.0035759,213 (7.42)(9.80)(10.74)(10.12)(8.79)(7.98)(7.25)(6.49)(5.05)(2.83)(-0.75) 大小城市間往返的市場0.00736**0.00388***0.0190***0.0153***0.0121***0.0115***0.0105***0.0113***0.0103***0.00689*0.0010373,112 (2.92)(5.12)(5.90)(5.25)(4.34)(4.27)(4.09)(4.26)(3.73)(2.36)(0.31) 小城市間往返的市場0.003230.001410.0118*0.002710.001370.002610.003130.007910.008890.008420.0058116,372 (0.78)(1.18)(2.20)(0.55)(0.29)(0.58)(0.74)(1.82)(1.95)(1.79)(1.09) 所有市場0.0174***0.00594***0.0313***0.0254***0.0205***0.0178***0.0153***0.0150***0.0132***0.00982***0.00486*148,697 (9.90)(11.59)(14.22)(12.63)(10.66)(9.59)(8.59)(8.15)(6.89)(4.88)(2.13) PS_MMCjmt/1000ln_avg_farejmtGjmtlnp90lnp80lnp70lnp60lnp50lnp40lnp30lnp20lnp10observation top10000.0655***0.0102***0.0796***0.0743***0.0692***0.0658***0.0640***0.0648***0.0638***0.0590***0.0487***59,213 (15.82)(8.85)(15.91)(16.08)(15.57)(15.31)(15.40)(15.16)(14.44)(12.60)(9.25) 大小城市間往返的市場0.00904**0.00902***0.0323***0.0230***0.0171***0.0140***0.0116***0.0127***0.0103***0.00454-0.0033673,112 (3.28)(10.90)(9.17)(7.21)(5.63)(4.78)(4.14)(4.38)(3.40)(1.42)(-0.93) 小城市間往返的市場0.001610.002380.0124*0.001870.0009880.001910.002250.005950.006020.004170.00099616,372 (0.38)(1.93)(2.24)(0.37)(0.20)(0.41)(0.51)(1.32)(1.28)(0.85)(0.18) 所有市場0.0268***0.00774***0.0441***0.0364***0.0313***0.0279***0.0253***0.0257***0.0240***0.0204***0.0162***148,697 (13.91)(13.79)(18.27)(16.51)(14.82)(13.72)(12.98)(12.77)(11.49)(9.23)(6.47) *採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 *時間之虛擬變數、航空公司之虛擬變數、常數皆包含在內模型內，未顯示於表格中。因控制變數都符號與顯著性一致而省略。‧ 國
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表A9:兩期在不同市場下
av g
_co nt ac t
mt的對比av g
_co nt ac t
mt/1000
top1000大小城市間往返的市場小城市間往返的市場所有市場 period1period2period1period2period1period2period1period2ln
_av g
_f ar e
jmt0.004120.0279***0.00765***0.00736**0.00714**0.003230.00913***0.0174*** (0.76)(7.42)(3.39)(2.92)(2.83)(0.78)(6.10)(9.90)G
jmt0.00737***0.0102***-0.00394***0.00388***0.00714**0.00141-0.00192***0.00594*** (4.64)(9.80)(-5.97)(5.12)(2.83)(1.18)(-4.46)(11.59)lnp
900.0281***0.0488***0.00704*0.0190***0.0159***0.0118*0.0142***0.0313*** (4.01)(10.74)(2.39)(5.90)(5.04)(2.20)(7.35)(14.22)lnp
800.0219***0.0425***0.00801**0.0153***0.00806**0.002710.0141***0.0254*** (3.49)(10.12)(3.02)(5.25)(2.78)(0.55)(8.10)(12.63)lnp
700.0122*0.0355***0.00978***0.0121***0.005350.001370.0149***0.0205*** (2.04)(8.79)(3.89)(4.34)(1.92)(0.29)(9.01)(10.66)lnp
600.008220.0312***0.00978***0.0115***0.00748**0.002610.0176***0.0178*** (1.45)(7.98)(3.89)(4.27)(2.79)(0.58)(11.10)(9.59)lnp
500.001750.0274***0.0149***0.0105***0.00803**0.003130.0179***0.0153*** (0.32)(7.25)(6.56)(4.09)(3.15)(0.74)(11.92)(8.59)lnp
40-0.001400.0252***0.0191***0.0113***0.00803**0.007910.0205***0.0150*** (-0.25)(6.49)(8.18)(4.26)(3.15)(1.82)(13.22)(8.15)lnp
30-0.003350.0203***0.0231***0.0103***0.0147***0.008890.0238***0.0132*** (-0.59)(5.05)(9.54)(3.73)(5.31)(1.95)(14.78)(6.89)lnp
20-0.009160.0120**0.0257***0.00689*0.0147***0.008420.0242***0.00982*** (-1.52)(2.83)(10.13)(2.36)(5.31)(1.79)(14.33)(4.88)lnp
10-0.0146*-0.003570.0257***0.001030.0147***0.005810.0248***0.00486* (-2.11)(-0.75)(10.13)(0.31)(5.31)(1.09)(12.95)(2.13) observation90,17359213168,85773,11263,96316,372322,993148,697 * 採用固定效果模型，*p<0.05，**p<0.01，p<0.001。 * 時間之虛擬變數、航空公司之虛擬變數、常數皆包含在內模型內，未顯示於表格中。‧ 國
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表A10:兩期在不同市場下