Ownership Consolidation and Product Characteristics: A Study of the US Daily Newspaper Market | Zendy

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Ownership Consolidation and Product Characteristics: A Study of the US Daily Newspaper Market

Author(s) -

Ying Fan

Publication year - 2013

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.103.5.1598

Subject(s) - newspaper , consolidation (business) , economics , product market , welfare , product (mathematics) , microeconomics , advertising , business , market economy , finance , mathematics , geometry , incentive

This paper develops a structural model of newspaper markets to analyze the effects of ownership consolidation, taking into account not only firms' price adjustments but also the adjustments in newspaper characteristics. A new dataset on newspaper prices and characteristics is used to estimate the model. The paper then simulates the effect of a merger in the Minneapolis newspaper market and studies how welfare effects of mergers vary with market characteristics. It finds that ignoring adjustments of product characteristics causes substantial differences in estimated effects of mergers.

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