Table 3.

Price war and successful collusion determinants for China Eastern.

	Coef.	Std. error	Marginal effect (dy/dx)		Coef.	Std. error	Marginal effect (dy/dx)
Dependent variable: war				Dependent variable: collusion
oaptshare	0.216	0.369		oaptshare	0.096	0.328
oapthhi	0.008⁎	0.004	0.001	oapthhi	0.014⁎⁎⁎	0.004	0.002
murouteshare	− 0.427⁎	0.228		murouteshare	− 0.205	0.213
mmc	− 0.001	0.002		mmc	− 0.001	0.002
distance	0.011	0.008		distance	0.001	0.007
tourismroute	0.408⁎⁎⁎	0.095	0.040	tourismroute	− 0.144	0.092
busyapt	0.352⁎⁎⁎	0.120	0.027	busyapt	0.059	0.109
hubtohub	0.189	0.142		hubtohub	− 0.224⁎	0.131	− 0.024
sarsdummy	− 0.043	0.244		sarsdummy	0.847⁎⁎⁎	0.167	0.171
ca	− 0.300⁎⁎	0.118	− 0.020	ca	− 0.042	0.095
cz	0.212⁎⁎	0.108	0.018	cz	0.155	0.096
fm	− 0.276⁎⁎	0.129	− 0.019	fm	0.131	0.118
hu	0.076	0.106		hu	0.149	0.096
y2003	0.273⁎⁎	0.116	0.023	y2003	0.054	0.129
y2004	− 0.024	0.120		y2004	0.444⁎⁎⁎	0.116	0.057
Jan	− 0.525⁎	0.288	− 0.027	Jan	0.494⁎⁎⁎	0.163	0.085
Feb	0.069	0.206		Feb	− 0.283	0.182
Mar	0.270	0.198		Mar	− 0.273	0.180
Apr	− 0.232	0.224		Apr	0.439⁎⁎⁎	0.152	0.072
May	− 0.367⁎⁎	0.231	− 0.026	May	0.148	0.139
Jul	0.277	0.202		Jul	− 0.271	0.182
Aug	− 0.026	0.234		Aug	− 0.139	0.186
Sep	− 0.157	0.249		Sep	− 0.290	0.195
Oct	− 0.508⁎⁎	0.240	− 0.027	Oct	− 0.130	0.170
Nov	0.389⁎⁎	0.195	0.040	Nov	− 0.636⁎⁎⁎	0.211	− 0.050
Dec	0.227	0.200		Dec	− 0.230	0.176
paxno	− 0.002	0.001		paxno	0.000	0.001	0.000
_cons	− 2.159	0.262		_cons	− 2.081	0.222
Summary statistics:				Summary statistics:
1.Number of observations = 3263				1.Number of observations = 3263
2. Log likelihood = − 18,249.96				2. Log likelihood = − 18,464.55
3. Wald test of overall significance:				3.Wald test of overall significance:
Chi-square(27) = 104.16⁎⁎⁎				Chi-square(27) = 198.08⁎⁎⁎

Instruments: number of carriers, geometric means of populations and of GDPs per capita of route endpoints.

^⁎Significant at 10%.

^⁎⁎Significant at 5%.

^⁎⁎⁎Significant at 1%.