Sufficiently to transform the frustrating situation

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Before 1976, the airlines often denied boarding to passengers who were flying on urgent business in favour of passengers who were not in any particular hurry to reach their destinations. This would seem to be a cooperative failure. What was the crucial step that lowered transaction costs sufficiently to transform the frustrating situation before 1976, when the last persons to show up at the gate were denied boarding, into the current system, where only volunteers are denied boarding? Provide references please.

Reference no: EM13740719

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