Description:
We present empirical techniques that are both familiar to students of industrial organization and useful for modeling of media markets. We first focus on demand estimation with discussion of various discrete choice models. We then turn to estimation of the demand for advertising. We next turn to the supply side of the market. We discuss the estimation of models using continuous variables that firms choose (such as prices or ad level), followed by a discussion of entry models with both homogeneous and differentiated products. We conclude with a brief discussion of future challenges.