Market Provision of Broadcasting: A Welfare Analysis
构建了广播市场供给的理论模型，分析广告水平、节目数量是否偏离社会最优，发现定价能力可能降低社会福利，而垄断可能提高福利。
This paper presents a theory of the market provision of broadcasting and uses it to address the nature of market failure in the industry. Equilibrium advertising levels may be too low or too high, depending on the nuisance cost to viewers, the substitutability of programmes, and the expected benefits to advertisers from contacting viewers. The equilibrium amount of programming may also be below or above the socially optimal level. Perhaps surprisingly, the ability to price programming may reduce social surplus, while monopoly ownership may increase it. Copyright 2005, Wiley-Blackwell.