An Estimated Model of the German Magazine Market

Ulrich Kaiser ()

CIG Working Papers from Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG)

Abstract: I derive and estimate a model for profit maximization of German magazines. Quarterly data on German women's magazines observed between 1998 and 2001 are used in the econometrics. Main empirical results are that magazines with particularly circulation-sensitive advertising prices set cover prices below marginal cost and there are large and highly significant returns to scale and scope in production. ZUSAMMENFASSUNG - (Ein geschaetztes Modell für den deutschen Zeitschriftenmarkt) Diese Arbeit entwickelt und schätzt ein Modell für die Gewinnmaximierung deutscher Zeitschriften. In der ökonometrischen Analyse werden vierteljährliche Daten des Zeitraums 1998 bis 2001 verwendet. Es zeigt sich, dass die Preise von Zeitschriften, deren Anzeigenpreis besonders stark auf Veränderungen in der verkauften Auflage reagieren, deutlich unter den Produktionskosten liegen. Zudem finden sich grosse und hochsignifikante Skalenerträge.

Keywords: Magazine; cost estimation; GMM estimation (search for similar items in EconPapers)
JEL-codes: C33 L11 (search for similar items in EconPapers)
Pages: 53 pages
Date: 2004-04
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Citations: View citations in EconPapers (3)

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