Effects of Deregulation and Consolidation of the Broadcast Television Industry
利用1990年代的放松管制政策，估计了广播电视行业整合对收视率和收入的影响，并发现成本效应解释了所有权结构，整合显著提升了行业盈利能力。
This paper exploits deregulation in the 1990s to estimate viewership and revenue effects of consolidation in broadcast television, then finds cost effects that explain the ownership structure given viewership and revenue effects. Results suggest that consolidation greatly increased profitability in an industry with otherwise declining profitability. Groups with broader national coverage attract more advertising per station. Joint ownership of two stations within a market and network ownership both allow for significant cost savings. There is some evidence that within-market consolidation allows stations to achieve local market power. However, both within-market and across-market consolidation appear to have boosted viewership, on net.