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Dynamic Product Repositioning in Differentiated Product Markets: The Case of Format Switching in the Commercial Radio Industry / Andrew Sweeting.
- Format:
- Book
- Author/Creator:
- Sweeting, Andrew.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w13522.
- NBER working paper series no. w13522
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Dynamic Product Repositioning in Differentiated Product Markets
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2007.
- Summary:
- The ability of firms to reposition their products can determine the effects of demand shocks, mergers and policy interventions in differentiated product markets. This paper estimates a dynamic oligopoly model to measure repositioning costs in the commercial radio industry. Based on a set of markets where industry revenues were around $88 billion, I find that stations may have spent as much as $6 billion on repositioning. However, repositioning costs are not large enough to prevent radio markets adapting quite quickly to demand shocks.
- Notes:
- Print version record
- October 2007.
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