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This paper develops a market entry game model to investigate the competitionbetween air transport and high-speed rail transport.Ticket price,service frequency and passengersmode switch behaviour under the price fluctuation is taken into consideration in this research.Acase study in China is proposed to present the competition between air transport and high-speedrail(HSR).A backward induction method is introduced to solve this problem.Results show thatthe optimal strategy for HSR is to enter the market no matter what strategy air transport adopts.While the optimal strategy of air transport depends on the total demand and HSRs sunk cost,when sunk cost exceeds a threshold or total demand is less than a threshold,deterrence strategy ismore effective.