This paper presents a theory of the market provision of broadcasting and uses it to address the nature of market failure in the industry. Equilibrium advertising levels may be too low or too high, depending on the nuisance cost to viewers, the substitutability of programmes, and the expected...

This paper presents a theory of the market provision of broadcasting and uses it to address the nature of market failure in the industry. Equilibrium advertising levels may be too low or too high, depending on the nuisance cost to viewers, the substitutability of programmes, and the expected...

This article shows that governments have no incentive to introduce nontariff barriers (NTBs) when they are free to set tariffs but they do when tariffs are determined cooperatively. Quotas are preferred to antidumping restrictions so that the model is consistent with a progression from using...