haku: @indexterm Radio industry / yhteensä: 44
viite: 17 / 44
| Tekijä: | Berry, S. T. Waldfogel, J. |
| Otsikko: | Free entry and social inefficiency in radio broadcasting |
| Lehti: | RAND Journal of Economics
1999 : AUTUMN, VOL. 30:3, p. 397-420 |
| Asiasana: | BROADCASTING INDUSTRY RADIO INDUSTRY EFFICIENCY SOCIAL ENVIRONMENT |
| Kieli: | eng |
| Tiivistelmä: | Free entry may lead to social inefficiency. The paper studies the radio industry to quantify inefficiency. Using cross-sectional data on advertising prices, the number of stations, and radio listening, the study estimates the parameters of listeners' decisions and of companies' profits. The estimates imply that the welfare loss of free entry is 45% of revenue. The free entry equilibrium would be optimal if the marginal value of programming to listeners were about 3 times the value of marginal listeners to advertisers. |
SCIMA