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

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Author Info
Kaiser, Ulrich

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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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Publisher 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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Related research
Keywords: magazines; cost estimation; GMM estimation; website provision;

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Find related papers by JEL classification:
L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data

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  1. Rosse, James N, 1970. "Estimating Cost Function Parameters without Using Cost Data: Illustrated Methodology," Econometrica, Econometric Society, vol. 38(2), pages 256-75, March. [Downloadable!] (restricted)
  2. Röller, Lars-Hendrik & Stennek, Johan & Verboven, Frank, 2000. "Efficiency Gains from Mergers," Working Paper Series 543, Research Institute of Industrial Economics. [Downloadable!]
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  3. Marc Rysman, 2004. "Competition Between Networks: A Study of the Market for Yellow Pages," Review of Economic Studies, Blackwell Publishing, vol. 71(2), pages 483-512, 04. [Downloadable!] (restricted)
  4. Merrilees, William J, 1983. "Anatomy of a Price Leadership Challenge: An Evaluation of Pricing Strategies in the Australian Newspaper Industry," Journal of Industrial Economics, Blackwell Publishing, vol. 31(3), pages 291-311, March. [Downloadable!] (restricted)
  5. Thompson, R Stephen, 1989. "Circulation versus Advertiser Appeal in the Newspaper Industry: An Empirical Investigation," Journal of Industrial Economics, Blackwell Publishing, vol. 37(3), pages 259-71, March. [Downloadable!] (restricted)
  6. Ulrich Kaiser, 2002. "The Effects of Website Provision on the Demand for German Women's Magazines," NBER Working Papers 8806, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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