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The Journal of Media Economics publishes original research on the economics and policy of mediated communication, focusing on firms, markets, and institutions. Reflecting the increasing diversity of analytical approaches employed in economics and recognizing that policies promoting social and political objectives may have significant economic impacts on media, the journal encourages ...
Williamson defines transaction costs as a cost innate in running an economic system of companies, comprising the total costs of making a transaction, including the cost of planning, deciding, changing plans, resolving disputes, and after-sales. [6] According to Williamson, the determinants of transaction costs are frequency, specificity ...
Agency cost. An agency cost is an economic concept that refers to the costs associated with the relationship between a "principal" (an organization, person or group of persons), and an "agent". The agent is given powers to make decisions on behalf of the principal. However, the two parties may have different incentives and the agent generally ...
Media economics embodies economic theoretical and practical economic questions specific to media of all types. Of particular concern to media economics are the economic policies and practices of media companies and disciplines including journalism and the news industry, film production, entertainment programs, print, broadcast, mobile communications, Internet, advertising and public relations.
Theory of the firm. The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. [1] Firms are key drivers in economics, providing goods and services in return for monetary payments and ...
Article indices. v. t. e. In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale that is, increased production with lowered cost. [1]
The economics of discretionary behavior: nonpecuniary objectives in the theory of the firm (1963) Oliver Eaton Williamson (September 27, 1932 – May 21, 2020) was an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences, which he shared with Elinor Ostrom.
Business journalism is the part of journalism that tracks, records, analyzes, and interprets the business, economic and financial activities and changes that take place in societies. Topics widely cover the entire purview of all commercial activities related to the economy. This area of journalism provides news and feature articles about people ...