Economics 2166F/G Lecture Notes - Lecture 1: Deadweight Loss, Avoidance Speech, Airline Hub
5 Dec 2014
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Right of an airline to fly over another country without landing unilateral between. Slide 3 says input it should be output. For business and pleasure 50% of all travel is discretionary. Derived demand is doing something to achieve a different end goal. Aviation took off ww2 from a commercial goods and people transport standpoint. Aviation legislation was important of all countries agendas. 1919 paris convention formalised the idea of sovereign control of a countries airspace. 1928 havana convention safety standards and more rules discussed. 1929 warsaw convention formalised info about luggage tags and airline tickets and laws about standardizing laws. 1944 ww2 ended and at a post war conference fdr discussed a global standpoint on aviation and business in general he proposed open skies. And proposed complete open market for air transport and make it perfect competition. Set legal frame work for bilateral and multilateral regulation in regards to aviation. 1. revenue paying activity in the middle country.
