chapter  10
16 Pages

TRADING TIME AND MONEY FOR INFORMATION IN THE TELEVISION ADVERTISING MARKET: STRATEGIES AND CONSEQUENCES

WithPatricia F. Phalen

This chapter focuses on the role of time in the operation of U.S. electronic media markets by analyzing the information system that supports economic transactions.2 It considers market participants’ investment of time in gathering information prior to a media buy, and the use of that information in estimating the value of media time purchased.