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Optimal Cover Prices and the Effects of Website Provision on Advertising and Magazine Demand

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  • Kaiser, Ulrich

Abstract

I derive and estimate a model for cover price setting in print media markets where actors are faced by two interrelated demand curves: the demand for the print medium and the demand for advertising space. Publicly available data on German women?s magazines observed between 1998 and 2001 are used in the GMM estimation. Main findings are that my estimated marginals cost coincide well with those of industry sources, magazines with a high circulation elasticity of advertising demand price markedly below marginal cost and website provision neither has a significant effect on magazine nor on advertising demand. Keywords: magazines, cost estimation, GMM estimation, website provision --

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Bibliographic Info

Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 02-54.

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Date of creation: 2002
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Handle: RePEc:zbw:zewdip:568

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Keywords: magazines; cost estimation; GMM estimation; website provision;

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  1. Kaiser, Ulrich, 2001. "The effects of website provision on the demand for German women's magazines," ZEW Discussion Papers 01-69, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Lars-Hendrik Röller & Johan Stennek & Frank Verboven, 2000. "Efficiency Gains from Mergers," CIG Working Papers FS IV 00-09, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  3. Merrilees, William J, 1983. "Anatomy of a Price Leadership Challenge: An Evaluation of Pricing Strategies in the Australian Newspaper Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 31(3), pages 291-311, March.
  4. Rosse, James N, 1970. "Estimating Cost Function Parameters without Using Cost Data: Illustrated Methodology," Econometrica, Econometric Society, vol. 38(2), pages 256-75, March.
  5. Thompson, R Stephen, 1989. "Circulation versus Advertiser Appeal in the Newspaper Industry: An Empirical Investigation," Journal of Industrial Economics, Wiley Blackwell, vol. 37(3), pages 259-71, March.
  6. repec:fth:iniesr:543 is not listed on IDEAS
  7. Marc Rysman, 2004. "Competition Between Networks: A�Study of the Market for Yellow�Pages," Review of Economic Studies, Wiley Blackwell, vol. 71(2), pages 483-512, 04.
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