ABSTRACT
In 1978, the (later abolished) U.S. Civil Aeronautics Board (CAB) mandated an auction plan to reduce the number of involuntary bumpings. Since then, whenever there is an oversale, airlines have been required to ask for volunteers to wait for a later flight, using whichever incentive system the airlines choose. This chapter is about the history of how that regulatory reform came about, and its results.
