An Economic Theory of Media Brands

Frank Lobigs ()
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Frank Lobigs: TU Dortmund University

A chapter in Handbook of Media Branding, 2015, pp 373-386 from Springer

Abstract: Abstract Information economics suggests that there are fundamental quality dilemmas which affect media markets. This chapter examines whether the hypothesis that media branding can overcome these dilemmas by establishing quality reputation mechanisms can be supported by the economic theory of reputation. Building on this examination this chapter presents a basic economic theory of media brands. Above that it provides insights into the economics of media product bundling, as well as into the very special economics of journalism. However, unlike the standard economic theory of reputation, which is solely based on information economics and game theory, the economic theory of media brands must also take institutional economics into account. The chapter closes with an application of the outlined theory to the question of how the development of the internet affects journalistic media brands.

Keywords: Economic theory of media brands; Economics of journalism; Quality dilemma of the media; Journalism paradox; Journalism as a credence good; Media brand reputation; Media bundling; Audience segmentation (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-18236-0_25

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DOI: 10.1007/978-3-319-18236-0_25

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