Handbook of Media Economics - 1st Edition - ISBN: 9780444636911, 9780444636959

Handbook of Media Economics, Volume 2V

1st Edition

Editors: Simon Anderson Joel Waldfogel David Stromberg
eBook ISBN: 9780444636959
Book ISBN: 9780444636911
Imprint: North Holland
Published Date: 4th December 2015
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Description

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.

Key Features

  • 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

Readership

Primary:  graduate students and professors worldwide studying media economics, as well as those working in industrial organization and microeconomics
Secondary:  non-academic economists worldwide working in regulation and competition policy

Table of Contents

  • 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

Details

Language:
English
Copyright:
© North Holland 2015
Published:
Imprint:
North Holland
eBook ISBN:
9780444636959
Book ISBN:
9780444636911

About the Editor

Simon 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

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

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.

Affiliations and Expertise

Stockholm University

Reviews

"This Handbook provides a very useful overview of the economic literature on the media, a literature that has grown tremendously in the last few decades. Now we will have one single place to go when in need of accessing state-of the-art knowledge in this research area. It is particularly welcome that the editors have collected surveys both across the various media industries and across the main market-structure and political-economy issues." --Tore Nilssen, University of Oslo