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Table 4 Statistical significance of variations (t-test) in the price structure of matched flights before and after the entry event
Level of aggregation | No. deltas | Avg. value prior to entries (t = -7 …-1) | Mean ∆t → t-7 | P value |
|---|---|---|---|---|
Each matched flight | ||||
Pi,t | 1809 | 68.27 | −2.892*** | 0.000 |
βi,t | 1809 | 0.045 | −0.0087*** | 0.001 |
Di,t | 1809 | 0.221 | 0.0001 | 0.998 |
Aggregated by observation (dept,arr,dept time) | ||||
Pi | 322 | 68.38 | −2.529* | 0.063 |
βi | 322 | 0.045 | −0.0089*** | 0.000 |
Di | 322 | 0.228 | 0.0022 | 0.834 |
Aggregated by route (dept,arr) | ||||
P | 194 | 76.51 | −2.610 | 0.171 |
β | 194 | 0.035 | −0.006*** | 0.001 |
D | 194 | 0.258 | −0.015 | 0.254 |