This contribution provides a game theoretical derivation of market demand as a function of the level and distribution of income in the considered economy: if (i) the price is low, everyone buys the good; if (ii ) the price is high, only the rich buy the good (a status good in a narrow sense). If...

The aim of this paper is to analyse the pricing behaviour of print media firms when consumption on reader markets is addictive or habituated. However, not only the reader but also the advertising market has to be considered by a publisher optimising profits. Because print media markets are...

The (socio-)psychological concepts of individual aspiration for conformity and consistency are integrated into the rational-choice framework. By using this integrative approach it is shown that after a shock the aspiration for conformity results in an equilibrium which deviates from the homo...

This article sheds light on the interaction of media, economic actors, and economic experts. Based on a unique data set of 86,000 news items rated by professional analysts of Media Tenor International and survey data, we first analyze the overall tone of the media, consumers’, firms’, and...

This article sheds light on the interaction of media, economic actors, and economic experts. Based on a unique data set of 86,000 news items rated by professional analysts of Media Tenor International and survey data, we first analyze the overall tone of the media, consumers', firms', and...