Preference Externalities: An Empirical Study of Who Benefits Whom in Differentiated Product Markets
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Theory predicts that in markets with increasing returns, the number of differentiated products and resulting consumer satisfaction grow in market size. We document this phenomenon across 246 US radio markets. By a mechanism that we term 'preference externalities', an increase in the size of the
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美国国家经济研究局创建时间：
1999-10-01
