We consider a model of a TV oligopoly where TV channels transmit advertising and viewersdislike such commercials. We … substitutes, there will be underprovisionof advertising relative to social optimum. We also find that the more viewers dislike ads …, themore likely it is that welfare is increasing in the number of advertising financed TV channels... …

by advertising as well. The closer substitutes the media firms’ products are, the less they rely on consumer payment and … the more they rely on advertising revenues. If media firms can invest in programming, they invest more the less …

standard economic theory prescribes that the advertising volume can be optimally reduced by levying a tax on ads. However …

Newspapers have an incentive to moderate their profile in order to gain a larger readership and thus higher advertising …

assumptions that there is no advertising congestion and that viewers single-home. Allowing for crowding in viewer attention spans …