Detail Free Entry and Social Inefficiency in Radio Broadcasting   Oleh:  Waldfogel, Joel ; Berry, Steven T. Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 30 no. 3 (1999), page 397-420. Topik: radio broadcasting; free entry; social inefficiency; radio broadcasting Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel In theory, free entry can lead to social inefficiency. We study the radio industry in a first attempt to quantify this inefficiency. Using cross - sectional data on advertising prices, the number of stations, and radio listening, we estimate the parameters of listeners' decisions and of firms' profits. Relative to the social optimum, our estimates imply that the welfare loss (to firms and advertisers) of free entry is 45 % of revenue. However, the free entry equilibrium would be optimal if the marginal value of programming to listeners were about three times the value of marginal listeners to advertisers. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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