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 …

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 …

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 …

TV industry, where TV channels choose advertising prices to maximize own profi…t and typically delegate determination of …

Under the current market structure in the TV industry advertising prices are typically set by TV channels while viewer … the willingness to pay for rival channels. We find that a shift to a market structure where advertising prices as well as …

We consider a model where TV channels transmit advertising, and viewers dislike such commercials. We find that the less … differentiated the TV channels’ programs are, the lower is the amount of advertising in equilibrium. Relative to the social optimum …, there is underprovision of advertising if TV channels are sufficiently close substitutes. In such a situation, a merger …

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... …

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

We consider a model where TV channels transmit advertising, and viewers dislike such commercials. We find that the less … differentiated the TV channels’ programs are, the lower is the amount of advertising in equilibrium. Relative to the social optimum …, there is underprovision of advertising if TV channels are sufficiently close substitutes. In such a situation, a merger …

competing TV channels. Under the current market structure advertising prices are typically set by TV channels while viewer … rival channels. We nonetheless find that a shift to a market structure where both advertising prices and viewer prices are …