ECO 550 (Latest) Week 7 Case Study – Use of Game Theory to Maximize Profits
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The following article describes the unique boarding process used by Southwest Airlines.
Use this article and three (3) others to answer the following questions in 5–7 pages:
- Describe the change in Southwest Airlines’ boarding process.
- What was Southwest’s main goal introducing the early-bird check-in?
- Explain how Southwest Airlines used the game theory approach to increase its profits.
- What is the outcome of the game involving early-bird check-in?
- Identify what is the passengers’ dominant strategy.
- Determine why travelers face the Prisoner’s Dilemma with the early-bird check-in process.
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