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Dynamic Product Repositioning in Differentiated Product Markets

其他書名	The Case of Format Switching in the Commercial Radio Industry
出版	National Bureau of Economic Research, 2007
URL	http://books.google.com.hk/books?id=hxHwAAAAMAAJ&hl=&source=gbs_api

註釋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.