Date of Award

Spring 1-1-2013

Document Type

Dissertation

Degree Name

Doctor of Philosophy (PhD)

Department

Economics

First Advisor

Scott Savage

Second Advisor

Donald Waldman

Third Advisor

Yongmin Chen

Fourth Advisor

Jin H. Kim

Fifth Advisor

Harrison Fell

Abstract

This dissertation examines the ways in which media and entertainment industries organize and compete, and how this may affect consumer utility. In the first chapter, I consider the use of exclusive contracts among four of the United States' most prominent music festivals in order to examine their influence on local music venues. By utilizing a unique industry and multi-year dataset, as well as variation in the use of exclusive dealing across the country as determined by the location of large music festivals, this paper adds to the paucity of empirical analysis of exclusive dealing and provides new insight into an ignored sector of the music industry. Results show that exclusive contracts correlate with a decrease in the number of venues in affected cities by nine to 35 percent.

In the second chapter, I focus on the operation of these same music festivals. This paper examines what characteristics are important to current commercially successful music festivals when making hiring decisions. A model of customer demand motivates the paper, and the empirical analysis utilizes characteristics important to the negotiation between festival and the band as input in order to determine what is necessary for the festival to attract a sufficient number of consumers.

In the final chapter my co-authors and I examine how consumers value non-price characteristics of local news, providing results unique to the literature. Results show that welfare decreases, but the losses are smaller in large markets. This analysis informs policy questions about the value of local news and how much regulation should be involved.

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