Intermedia Substitutability and Market Demand by National Advertisers
(421 K)
|
NBER Working Paper No. 8624
Issued in December 2001
NBER Program(s): IO
We assess substitutable and complementary relationships among eight national advertising media classes, as well as the magnitude of their own-price elasticities. We use a translog demand model, whose parameters we estimate by three-stage least squares, based on 1960-94 annual U.S. data.We find aggregate demand by national advertisers for each of the eight media is own-price inelastic, and that cross-price elasticities suggest slightly more substitute than complementary relationships, although both are rather weak. These patterns are consistent with long prevailing institutional arrangements and media selection practices.
Published: Silk, Alvin J., Lisa R. Klein and Ernst R. Berndt. "Intermedia Substitutability And Market Demand By National Advertisers," Review of Industrial Organization, 2002, v20(4,Jun), 323-348.
This paper is available as PDF (421 K) or via email.
Machine-readable bibliographic record -
MARC,
RIS,
BibTeX
|
|
|
About
Support
The research activities of the NBER are funded by grants from federal research agencies, by private foundations, and by generous donations from our corporate associates and from private individuals. The NBER is a non-profit, 501(c)(3) organization. For information on supporting the NBER, please contact:
Mr. Denis Healy, Director of Development
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138-5398
ph: 617-868-3900
email: dhealy@nber.org
Close
