that increase the size of the market, such as emerging satellite and Internet technologies, may increase the satisfaction … satisfaction grow in market size. We document this phenomenon across 246 US radio markets. By a mechanism that we term 'preference … externalities', an increase in the size of the market brings forth additional products valued by others with similar tastes. But who …

variety than preference minorities. This fact alone, however, does not demonstrate the market outcome is in any way biased … against preference minorities. In this paper, we clarify the sense in which the market outcome may in fact be biased against …

This paper studies the market provision of a specific type of public good: radio and television broadcasts. Its main … focus is to explore the ability of the market to provide broadcasting efficiently in a world in which broadcasters earn … that market provided broadcasts may feature too few or too many commercials, depending on the relative sizes of their …

data set on 243 U.S. radio broadcast markets in 1993 and 1997, we find that concentration reduces entry and increases … product variety. Our results are consistent with spatial preemption. Jointly owned stations broadcasting from the same market … are more likely than unrelated stations - and more likely than jointly owned stations in different markets - to broadcast …

to listening. We then use our estimates of revenue and fixed costs to calculate the welfare of market participants …

behavior in the car market. We show that a social planner can use leasing contracts to improve welfare but they are imperfect … tools; they cannot generally achieve first best while other mechanisms can. We also show that a producer with market power … can benefit from leasing contracts for two reasons: better pricing of the option of keeping the used good, and market …

the demand and suppoly for labor-intensive care. Many economists have argued that aging will raise the market demand for … long-term care, and hence price and quantity through classic market effects. We argue that the direct effect of aging is to … lower the demand for market care by incresing the supply of home production. By influencing the length of frail lifetimes …

approximates Harris' (1954) market-potential function. The estimation results show how far demand linkages extend across space and …% fall in personal income for a region the size of Illinois reduces employment by 6.0-6.4% in counties that are 100 km in …