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| Author: | Silk, A. Berndt, E. |
| Title: | Costs, institutional mobility barriers, and market structure: advertising agencies as multiproduct firms |
| Journal: | Journal of Economics & Management Strategy
1994 : FALL, VOL. 3:3, p. 437-480 |
| Index terms: | MOBILITY MARKET STRUCTURE ADVERTISING AGENCIES COMPANIES |
| Language: | eng |
| Abstract: | What accounts for the diversity and limited concentration that has long characterized the organization of the advertizing agency? This question is addressed by treating an advertising agency as a multiproduct firm. The firm's product line or service mix is defined in terms of the set of different media categories where an agency places the advertising messages that it creates on behalf of its clients. Evidence is presented indicating that the structure of demand and costs in the advertising agency industry conforms to the conditions that MacDonald and Slivinski showed were required for an industry to sustain an equilibrium with diversified firms. |
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