The Determinants of Network Television Program Prices: Implicit Contracts, Regulation, and Bargaining Power

Article Abstract:

Recent regulation imposed on the television networks by the Federal Communications Commission (FCC) on contractual relationship between commercial networks and program suppliers is faulted. The networks are found not to exercise market power. Network payment is related to performance allowing the supplier to share in the profits. The FCC overlooked reality.

Computer networks, Laws, regulations and rules, Television

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Long-Term Contracts and Moral Hazard

Article Abstract:

The economic theory of agency is extended to multiperiod situations to determine the relationship of long term contracts and moral hazard. The long term contract precommits the employer to a legal, feasible and binding strategy. Second-period compensation will be related to first-period performance.

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Contracting in an Idiosyncratic Market

Article Abstract:

Customer-supplier contracting is analyzed in a model of a market for idiosyncratic products. Supplier efficiency in production and allocation of resources are required. Price flexibility is possible if the prices are fair. Suppliers should attempt to mimic competitive markets.

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