CMN 1160 Lecture Notes - Lecture 9: Oligopoly, Economism, Institute For Operations Research And The Management Sciences

• School: University of Ottawa
• Department: Communication
• Course: CMN 1160
• Professor: Daniel Pare

Document Summary

2 separate markets: audience market, advertising market. Oolliiggooppoollyy:: aa hhaannddffuull ooff eenntteerrpprriisseess ddoommiinnaattee tthhee mmaarrkkeett. Eeccoonnoommiissmm:: sseeeeiinngg eevveerryytthhiinngg tthhrroouugghh aann eeccoonnoommiicc ppeerrssppeeccttiivvee tthheerree""ss ssoommee tteennssiioonn iinn tthhiiss iinn rreeggaarrdd ttoo ccaannaaddiiaann ccuullttuurraall ggooooddss;; oovveerrllooookkss mmaarrkkeett eexxtteerrnnaalliittiieess ((eexxcchhaannggee vvaalluuee)) Mmaarrkkeett eexxtteerrnnaalliittiieess:: eeccoonnoommiicc aanndd ccuullttuurraall bbeenneeffiittss nnoott iimmmmiiddeeaattllyy sseeeenn iinn tthhee bbuuyyeerr//sseelllleerr ttrraannssaaccttiioonn ((uussee vvaalluuee)) Markets operate ideally in a very effective manner; assumption: idea that a market is fully competitive depends on everyone in the market having all the information. Humans don"t always behave rationally in their own self-interest. Exchange value (what you"re willing to pay for smtg) vs. use value (importance or value added to your life) Intangible commodities: my use of smtg does not diminish your ability to use it. Markets are not good at accounting for the stay power of cultural products. Producers of cultural goods need a helping hand to sustain themselves.