Numerous papers have examined the transformation of legacy media following the spread of social media in 2008. I will return to this topic. This post deals with an earlier period: the 80s and the advent of private, advertisement-financed television. There exists a prevailing notion that the introduction of private, advertisement-financed television led to a decline … Continue reading Monopolistic Competition: The Quality-Variety Trade-off in the Market for Advertisement-Financed Media →