NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Gregory Crawford

University of Zurich

E-Mail: gregory.crawford@econ.uzh.ch

NBER Working Papers and Publications

December 2015The Welfare Effects of Vertical Integration in Multichannel Television Markets
with Robin S. Lee, Michael D. Whinston, Ali Yurukoglu: w21832
We investigate the welfare effects of vertical integration of regional sports networks (RSNs) with programming distributors in U.S. multichannel television markets. Vertical integration can enhance efficiency by reducing double marginalization and increasing carriage of channels, but can also harm welfare due to foreclosure and incentives to raise rivals' costs. We estimate a structural model of viewership, subscription, distributor pricing, and affiliate fee bargaining using a rich dataset on the U.S. cable and satellite television industry (2000-2010). We use these estimates to analyze the impact of simulated vertical mergers and divestitures of RSNs on competition and welfare, and examine the efficacy of regulatory policies introduced by the U.S. Federal Communications Commission to add...
June 2014Cable Regulation in the Internet Era
in Economic Regulation and Its Reform: What Have We Learned?, Nancy L. Rose, editor
The market for multi-channel video programming (MVPD) has undergone considerable change in the last 15 years. Telephone operators ("telcos") have entered in some parts of the U.S. and online video distributors are a growing source of television viewing. Direct-Broadcast Satellite service, spurred by 1999 legislation that leveled the playing field with cable television systems, has grown from 3% to 33% of the combined U.S. MVPD (cable, satellite, and telco video) market. This chapter considers cable television regulation in light of these developments. It first surveys the empirical record on the effects of price regulation in U.S. cable markets across the four major periods of regulation and deregulation, with particular focus on potential price and quality tradeoffs. The evidence s...
 
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