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...

We integrate parking in a simple manner into the basic monocentric model. In equilibrium, the city divides into three zones. Closest to the CBD are parking lots, with residential housing further out. Residents contiguous to the parking lots walk to work. Those in the last band drive to a parking...