광고 수요의 매체 간 대체성에 관한 분석

다국어 초록 (Multilingual Abstract)

The purpose of this paper is to derive and estimate a model of the demand for media based on the assumption that the decision to media is made by producers attempting to minimize the cost of advertising. We employ a translog demand model, whose parameters we estimate by both three-stage least squares and seemingly uncorrelated regression model, based on 1970-2004 annual Korean data. We assess substitute and complementary relationships among four advertising media, as well as the magnitude of their ordinary own-and cross-price elasticities and elasticities of substitution. The estimation results-the estimated elasticities of substitution and the estimated ordinary cross-price elasticities- indicate weak substitutability between media. We find demand by advertisers for each of the four media is own-price inelastic, and that cross-price elasticities suggest slightly more substitute than complementary relationships, although both are rather weak. An important caveat to these results is associated with radio data.

참고문헌 (Reference)

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