Faculty of Arts and Social Sciences members awarded 2010 prize for Best Paper in the Economic Record

20 July 2011

Australia's premier journal in the field of Economics, Economic Record has awarded three Faculty of Arts and Social Sciences faculty members the Best Paper prize for 2010. Nick de Roos, Gordon Mills and Stephen Whelan from the School of Economics wrote the winning article, titled Pricing Dynamics in the Australian Airline Market.

The winning paper examined price dispersion of Australian domestic airfares, and found that the greatest price variations exist on domestic routes involving competition between the two main carriers, Qantas and Virgin. The study also uncovered that the lowest fares rise considerably in the week leading up to travel.

All papers published in Economic Record in 2010 were considered for the prize, including a number of international papers, despite the journal being an Australian publication. The selection panel comprised of Economics Professors from ANU, Monash and UNSW, and was judged on relevance and importance; originality in the use of data and theory; elegance of method and exposition; and the strength of policy conclusions.

Dr Timothy Fisher, Head of School of Economics at the University of Sydney, was thrilled with the result, and says, "I'm delighted that Nick, Gordon, and Stephen won the award. The Economic Record is the most prestigious economics journal in Australia."

"The paper is also in the area of applied economics, which is an area that we are trying to strengthen at Sydney, so the award is an indication that we are moving in the right direction", said Dr Fisher.

Nick, Stephen and Gordon accepted the award at the conference dinner of the recent Australian Conference of Economists in Canberra.

The full paper can be viewed online here.

Contact: Kate Mayor

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