The "voluntary bumping plan" used by airlines to resolve the problem of overbooked flights was developed by economist
A) Adam Smith.
B) John Maynard Keynes.
C) Alan Greenspan.
D) Julian Simon.

Question

Quizplus · Accepted Answer

Julian Simon is the economist who developed the "voluntary bumping plan" as a solution to the problem of overbooked flights, proposing incentives for passengers to voluntarily give up their seats.

The "Voluntary Bumping Plan" Used by Airlines to Resolve the Problem