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Handbook of Media Economics
1st Edition, Volume 2V - November 17, 2015
Editors: Simon P. Anderson, Joel Waldfogel, David Stromberg
Language: English
Hardback ISBN:9780444636911
9 7 8 - 0 - 4 4 4 - 6 3 6 9 1 - 1
eBook ISBN:9780444636959
9 7 8 - 0 - 4 4 4 - 6 3 6 9 5 - 9
Handbook of Media Economics provides valuable information on a unique field that has its own theories, evidence, and policies. Understanding the media is important for society,…Read more
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Handbook of Media Economics provides valuable information on a unique field that has its own theories, evidence, and policies. Understanding the media is important for society, and while new technologies are altering the media, they are also affecting our understanding of their economics. Chapters span the large scope of media economics, simultaneously offering in-depth analysis of particular topics, including the economics of why media are important, how media work (including financing sources, institutional settings, and regulation), what determines media content (including media bias), and the effects of new technologies. The volumes provide a powerful introduction for those interested in starting research in media economics.
Helps academic and non-academic economists understand recent rapid changes in theoretical and empirical advances, in structural empirical methods, and in the media industry's connection with the democratic process
Presents the only detailed summary of media economics that emphasizes political economy, merger policy, and competition policy
Pays special attention to the economic influences of the Internet, including developments in social media, user-generated content, and advertising, as well as the Internet's effects on newspapers, radio, and television
Primary: graduate students and professors worldwide studying media economics, as well as those working in industrial organization and microeconomicsSecondary: non-academic economists worldwide working in regulation and competition policy
Introduction to the Series
Introduction
Acknowledgment
Dedication
Volume 1A
Part I: Media Market Structure and Performance
Chapter 1: Preference Externalities in Media Markets
Abstract
1.1 Introduction
1.2 Fixed Costs and Heterogeneous Preferences
1.3 Theory
1.4 Empirical Results: Facts Relevant to Predictions from Theory
1.5 Technological Change, Fixed Costs, and Preference Externalities
Acknowledgments
Chapter 2: The Advertising-Financed Business Model in Two-Sided Media Markets
Abstract
2.1 Introduction
2.2 Cast of Characters
2.3 Equilibrium Analysis of Single-Homing Viewers/Readers/Listeners/Surfers
2.4 Multi-Homing Viewers/Readers
2.5 Equilibrium Genre Choices
2.6 Further Directions
Acknowledgments
Chapter 3: Empirical Modeling for Economics of the Media: Consumer and Advertiser Demand, Firm Supply and Firm Entry Models for Media Markets
Abstract
3.1 Introduction
3.2 Audience Demand
3.3 Advertiser Demand
3.4 The Supply Side: Choice of Prices, Ad Quantity, and Other Continuous Characteristics
3.5 The Supply Side: Positioning and Entry
3.6 Future Challenges
Chapter 4: Advertising in Markets
Abstract
4.1 Introduction
4.2 Search and Advertising
4.3 Product Advertising
4.4 Advertising as a Signal
4.5 Advertising Technology
4.6 Advertising that Might Not Inform
4.7 Closing Comments
Acknowledgments
Chapter 5: Recent Developments in Mass Media: Digitization and Multitasking
Abstract
5.1 Recent Trends in Mass Media Consumption
5.2 Effects of Digitization
5.3 Effects of Media Multitasking
5.4 Discussion
Acknowledgments
Chapter 6: Merger Policy and Regulation in Media Industries
Abstract
6.1 Introduction
6.2 Price and Quantity Effects of Mergers in Two-Sided Markets
6.3 Mergers and Platforms’ Choice of Genres
6.4 Merger Control in Media Markets
6.5 Concluding Remarks
Acknowledgments
Part II: Sectors
Chapter 7: The Economics of Television and Online Video Markets
Abstract
7.1 Introduction
7.2 The Television Industry
7.3 A Simple Model of the Television Market
7.4 Extensions to the Simple Model: “The Four Bs”
7.5 Open Policy Issues in Television Markets
7.6 Online Video Markets
7.7 Conclusions
Acknowledgments
Chapter 8: Radio
Abstract
8.1 Introduction
8.2 A Brief History of the Radio Industry in the United States
8.3 Data
8.4 The Effects of Industry Consolidation on Market Outcomes: Theoretical Considerations
8.5 Empirical Evidence on the Effects of Ownership Consolidation in Radio
8.6 Excess Entry
8.7 Strategies for Retaining Listeners
8.8 Non-commercial Radio and the Effects of Competition Between Non-commercial and Commercial Broadcasters
8.9 Effects of Radio on the Music Industry, and Cultural and Political Outcomes
8.10 Conclusions
Acknowledgments
Chapter 9: Newspapers and Magazines
Abstract
9.1 Introduction
9.2 An Overview of the Print Media Industry
9.3 Market Structure in Newspapers and Magazines
9.4 Newspapers and Magazines as Two-Sided Markets
9.5 Advertising in Newspapers and Magazines
9.6 Antitrust Issues in Newspapers and Magazines
9.7 Print Media and the Internet
9.8 Thoughts for Future Research and Conclusions
Acknowledgments
Chapter 10: The Economics of Internet Media
Abstract
10.1 Introduction
10.2 Media and Advertising on the Internet: Some Facts
10.3 Providing Media Content
10.4 Users Choosing Media Content
10.5 Media Platforms Matching Advertising to Content
10.6 Media Platforms Matching Advertising to Users
10.7 Conclusion
Acknowledgments
Volume 1B
Chapter 11: Privacy and the Internet
Abstract
11.1 Introduction
11.2 Economics of Privacy
11.3 Privacy and Advertising
11.4 Privacy and Social Media
11.5 Privacy in a World of Infinitely Persisting Data: The Right to be Forgotten
11.6 Privacy: Online Data Security
11.7 Privacy and the Government
11.8 Conclusion: Future Spheres of Privacy
Acknowledgments
Chapter 12: User-Generated Content and Social Media
Abstract
12.1 Introduction
12.2 The Impact of User-Generated Content
12.3 The Quality of User-Generated Content
12.4 Incentive Design and Behavioral Foundations
12.5 Other Issues
12.6 Discussion
Acknowledgments
Part III: The Political Economy of Mass Media
Chapter 13: Media Coverage and Political Accountability: Theory and Evidence
Abstract
13.1 Introduction
13.2 Theory
13.3 Evidence
13.4 Conclusion
Chapter 14: Media Bias in the Marketplace: Theory
Abstract
14.1 Introduction
14.2 What is Bias?
14.3 Bias and Welfare
14.4 A Model of the Market for News
14.5 Supply-Driven Bias
14.6 Demand-Driven Bias
14.7 Conclusion
Acknowledgments
Chapter 15: Empirical Studies of Media Bias
Abstract
15.1 Introduction
15.2 Estimating Bias
15.3 Factors Correlated with Bias
15.4 Bias and Voter Behavior
15.5 Conclusions
Chapter 16: Media Capture and Media Power
Abstract
16.1 Introduction
16.2 Media Capture
16.3 Media Power
16.4 Implications for Media Regulation
16.5 Conclusions
Chapter 17: Media Capture: Empirical Evidence
Abstract
17.1 Introduction
17.2 Evidence on Media Capture
17.3 Determinants of Media Capture
17.4 Media Effects in the Presence of Media Capture
17.5 Limits of Media Capture
17.6 Conclusion
Chapter 18: The Role of Media in Finance
Abstract
18.1 Introduction
18.2 Theory
18.3 Media as a Reflection of the Information Environment
18.4 Causal Role of Media
18.5 Corporate Finance Applications
18.6 Discussion and Directions for Future Research
Acknowledgments
Chapter 19: Economic and Social Impacts of the Media
Abstract
19.1 Introduction
19.2 Methodological Issues
19.3 Outcomes
19.4 Policy and Conclusion
Acknowledgments
Index
Language: English
Edition: 1
Volume: 2V
Published: November 17, 2015
Imprint: North Holland
Hardback ISBN: 9780444636911
eBook ISBN: 9780444636959
SA
Simon P. Anderson
Simon Anderson is Commonwealth Professor of Economics at the University of Virginia. He has published on advertising, search and information, price dispersion, media economics, and industrial organization.
Affiliations and expertise
University of Virginia
JW
Joel Waldfogel
Joel Waldfogel is Frederick R. Kappell Chair in Applied Economics. Previously the Ehrenkranz Family Professor of Business and Public Policy at the Wharton School, University of Pennsylvania, he has conducted empirical studies of price advertising, media markets, and issues related to digital products.
Affiliations and expertise
University of Minnesota
DS
David Stromberg
A Professor at the Institute for International Economic Studies, David Stromberg is also a Research Affiliate in the Public Policy Program at the Center for Economic and Policy Research in Washington, DC. He has published on the influence exerted by media on public policy.