Dewenter, Ralf; Haucap, Justus; Wenzel, Tobias - 2010
well as for readership. We compare three modes of competition: i) competition in the advertising and the reader market, ii …) semi-collusion over advertising (with competition in the reader market), and iii) (full) collusion in both the advertising … and the reader market. We find that semi-collusion leads to less advertising (but higher advertising prices) and lower …