Solsaem Choi

You are already at the latest version We analyzed the dynamic equilibrium process between demand and supply in the international airline market by utilizing Granger causality and Bayesian Networks (BN) based on South Korea’s aviation performance data. To examine whether the interrelationship between demand and supply varies depending on the classification of external factors, we tested for changes in causality based on reasonable segmentation of sub-market, time window, and time lag.

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2. Literature Review Socioeconomic variables have frequently been used as demand forecasting factors. Ref. [] defined a demand forecasting methodology as a demand derivative for general economic conditions by using GDP as an air travel demand factor. In addition, Ref. [] demonstrated that global air traffic increased by 1.58% for every 1% increase in GDP. Totamane, R., Dasgupta, A., and Rao, S.