In the Airline Industry, Specialized Assets Create Significant Exit Barriers

question 51

True/False

In the airline industry, specialized assets create significant exit barriers and intensify the rivalry among competitors.

---

Definitions:

Cue Deflation Effect

When the extinction of a response to one cue leads to an increased reaction to the other conditioned stimulus

Salient Conditioned Stimulus

A stimulus that stands out and is easily noticeable making it more likely to be associated with an unconditioned stimulus in the process of learning.

Extinction

In psychology, the gradual decrease and eventual disappearance of a conditioned response when the conditioned stimulus is no longer paired with an unconditioned stimulus.

Rescorla-Wagner Model

A psychological theory describing how new learning can interfere with or enhance existing conditioned associations through a process of expectation.