TV Wars: Exclusive Content and Platform Competition in Pay TV
研究付费电视中优质节目独家分销的动机，发现静态下垂直整合运营商会向对手提供内容以缓和竞争，但动态中转换成本使独家成为有利选择，解释了独家内容现象并为政策制定提供指导。
The article examines incentives for exclusive distribution of premium television programming. Static analysis shows that a vertically integrated operator with premium programming always supplies this content to the rival distributor, using per‐subscriber fees to soften competition. In a dynamic setting with switching costs exclusivity confers a market share advantage, benefiting the operator in the future. Under certain conditions this future benefit outweighs the opportunity cost of forgone wholesale fees, making exclusivity the preferred choice. Alternative dynamic mechanisms are explored, identifying essential features. The analysis explains the observed incidence of content exclusivity in pay TV and provides guidance for policy makers.