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Intermedia Substitutability and Market Demand by National Advertisers / Alvin J. Silk, Lisa R. Klein, Ernst R. Berndt.
- Format:
- Book
- Author/Creator:
- Silk, Alvin J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w8624.
- NBER working paper series no. w8624
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2001.
- Summary:
- 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.
- Notes:
- Print version record
- December 2001.
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