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The Welfare Effects of Radio Broadcasting Considering the Value of Time Use
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이용시간의 가치를 고려한 라디오방송의사회적 후생효과 추정

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Type
Academic journal
Author
SangKyu Byun (호서대학교)
Journal
정보통신정책학회 정보통신정책연구 정보통신정책연구 제25권 제3호 KCI Accredited Journals
Published
2018.1
Pages
69 - 94 (26page)

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The Welfare Effects of Radio Broadcasting Considering the Value of Time Use
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Abstract· Keywords

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Radio broadcasting was not only the first broadcasting medium but also the first mobile medium. Its public influence has been diminishing due to the fall in listeners. Thanks to the unique intimacy and appeal it offers to audiences, however, radio holds on to a niche market with a considerable number of loyal users. Owing to the decline in advertising sales, major investments have been delayed for years in connection with the uncertain future of the business environment. The gap between radio broadcasting and other media widens, and radio's potential, being the only analog medium, weakens. Social consensus on the necessity of radio broadcasting is thus an essential first step to deciding radio's future position. This study investigates the welfare effect of radio broadcasting using revealed preference data. The estimation is carried out by considering the value of time spent–the scarce resource in modern lives. Annual benefit of radio broadcasting is estimated at 0.4% of GDP. Moreover, terrestrial service is estimated to have a major social impact in spite of the role played by new-medium radio.

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