Beyond the Spectrum Constraint: Concentration and Entry in the Broadcasting Industry
The broadcasting industry is still very concentrated all over the world, after 15 years in which new technologies and public policies allowed to overcome the constraint of limited availability of frequencies on the radio spectrum. We argue that the monopolistic competition set up, traditionally used to analyze the broadcasting industry, does not fit the empirical evidence. Instead we analyze the free entry equilibrium in a multistage game in which the decision on program quality (attractiveness) is crucial and the associated fixed costs are endogenously determined. We show that concentration might arise in the long run even in large markets despite entry is free.
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Volume (Year): 91 (2001)
Issue (Month): 4 (April-May)
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- Andreas IRMEN & Jean-François THISSE, 1996.
"Competition in Multi-Characteristics Spaces: Hotelling Was Almost Right,"
Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP)
9613, Université de Lausanne, Faculté des HEC, DEEP.
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- Irmen, A. & Thisse, J.-F., . "Competition in multi-characteristics spaces: Hotelling was almost right," CORE Discussion Papers RP 1305, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- IRMEN, Andreas & THISSE, Jacques-Francois, 1997. "Competition in multi-characteristics spaces: hotelling was almost right," CORE Discussion Papers 1997053, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Irmen, Andreas & Thisse, Jacques-François, 1996. "Competition in Multi-characteristics Spaces: Hotelling was Almost Right," CEPR Discussion Papers 1446, C.E.P.R. Discussion Papers.
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- Shaked, Avner & Sutton, John, 1983. "Natural Oligopolies," Econometrica, Econometric Society, vol. 51(5), pages 1469-83, September.
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