Though widespread, the practice of public subsidies for cultural activity lacks a rigorous and consistent economic rationale. We analyze a canonical market structure that characterizes much cultural activity: the competition of mass-produced goods with heterogeneous non- standardized goods that...

This paper investigates some economic effects of recent amendments to the German Copyright Law on the German film industry. The changes assume the existence of a prevailing “structural superiority” of media companies over their contractual partners in labor markets which supposedly results...

In this paper, we investigate the impact of economic incentives on the international supply of big-screen movies. More particularly, we also study the impact of a 1998 increase in the term of copyright on U.S. movie production.

This paper addresses the economic impact of German advertising regulations. The digital convergence of media provides a starting point for the analysis. This convergence makes technically feasible “interactive product placement” (IPP), the integration of interactively purchasable products in...

We use mutual fund recommendations to test whether editorial content is independent from advertisers’ influence in the financial media. We find that major personal finance magazines (Money, Kiplinger’s Personal Finance, and SmartMoney) are more likely to recommend funds from families that...

This paper argues that advertising should be regarded as a transaction between a consumer and a firm that potentially generates a mutual benefit. We develop that there exists a problem of adverse selection, however, which makes it impossible to establish direct markets for advertising. The media...

We present a model of the TV-advertising market that encompasses both the product markets and the market for TV programs. We argue that the TV industry has several idiosyncratic characteristics that need to be modeled, and show that the strategic interaction in this industry differs from other...

The operating areas of each terrestrial broadcasting station in Japan are geographically divided by a licensing system and form oligopolies in each of their respective markets. These institutional constraints define the market structure, and as a result, affect the business performance of the...

En este artículo se presenta una descripción de la industria de televisión en Colombia haciendo distinción entre el servicio de televisión cerrada (o por suscripción) y el de televisión abierta. En el caso de este último, se propone un modelo coalicional para hacer una aproximación a la...

In this paper, we empirically measure the effect of the DIVX preannouncement in the DVD market. We do this by measuring the effect of potential (incompatible) competition on a network undergoing growth. We find that there are network effects in the DVD market and that the preannouncement of DIVX...