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 …

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 strategic informative advertising where the advertising is done on TV and where the TV channels …' advertising prices are endogenously determined. We discuss how these prices, and the advertising firms' advertising efforts, vary … channels is, the higher is the advertising price, and thus the less advertising is done. …

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 …

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 …

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 …

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 …

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 …

The key to an understanding of the TV industry is the market for TV advertising. We present a model of this market that … advertising, and TV channels offer complementary goods to advertisers. A move from a TV monopoly to a TV duopoly, we find, may … reduce both the total number of viewers and the total amount of TV advertising. A softening of competition in each product …