Fairness, property rights, and the market for media [Elektronische Ressource] : essays in behavioral economics and industrial organization / vorgelegt von Susanne Kremhelmer

FAIRNESS, PROPERTY RIGHTS, AND THE MARKET FOR MEDIA: ESSAYS IN BEHAVIORAL ECONOMICS AND INDUSTRIAL ORGANIZATION Inaugural-Dissertation zur Erlangung des Grades Doctor oeconomiae publicae (Dr. oec. publ.) an der Ludwig-Maximilians-Universität München 2004 vorgelegt von SUSANNE KREMHELMER Referent: Prof. Dr. Klaus M. Schmidt Korreferent: Professor Ray Rees Promotionsabschlussberatung: 21. Juli 2004 TO HANS A CKNOWLEDGEMENTS I want to thank my supervisor and co-author of Chapter 1, Klaus M. Schmidt, for his onging support and patience during my PhD studies. Furthermore, I want to thank my collegues Björn Bartling, Florian Englmaier, Brigitte Gebhard, Georg Gebhardt, Florian Herold, Alexander Klein and Simone Kohnz. I owe special thanks to Hans Zenger, the co-author of Chapter 3, who greatly supported and encouraged me. CONTENTS Preface ............................................................................................................................. 5 1 Fairness and the Optimal Allocation of Ownership Rights .......................... 13 1.1 Introduction................................................................................................13 1.2 A Simple Problem of the Allocation of Ownership Rights ....................... 17 1.3 Theoretical Predictions..............................................................................20 1.3.1 Common Knowledge of Self-Interested Preferences .......