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| Author: | Goettler, R.L. Shachar, R. |
| Title: | Spatial competition in the network television industry |
| Journal: | RAND Journal of Economics
2001 : WINTER, VOL 32:4, p. 624-656 |
| Index terms: | Television industry Networks Competition Economic theory Demand Methodology Consumer behaviour Models |
| Language: | eng |
| Abstract: | An empirical study of spatial competition and a methodology to estimate demand for products with unobservable characteristics is presented. Using panel data, a discrete-choice model with latent-product attributes and unobserved heterogeneous consumer preferences is estimated. The application of the methodology to the network television industry yields estimates that are consistent with experts' views. Given the estimates, Nash equilibria of a product location game are computed and it is found that firms' observed strategies are generally optimal. Discrepancies btw. actual and optimal strategies reflect the networks' adherence to 'rules of thumb' and, possibly, bounded rationality behaviour. |
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