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The Economics of Internet Advertising:
Implications for the Google-DoubleClick Merger
Wednesday, July 18th, 2007
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Internet advertising is the growth engine that sustains the availability of free applications such as YouTube and MySpace. Without Internet advertising revenues, many believe that innovators would cease to develop these immensely popular programs. On the flipside, advertisers will only advertise on Web pages that have a strong following or that they believe have the potential to attract many visitors. What would happen if a new entity were created that controlled most of the ads appearing on the Internet? The Google-DoubleClick merger may do just that. Given the important role of advertising in Internet innovation, how should federal antitrust officials decide on the important issues involved in assessing the merits of the merger, such as the relevant market and barriers to entry? How should they assess issues specifically related to Internet advertising, such as the effect of one company’s control of significant consumer data? By focusing on the potential costs and benefits of the Google-DoubleClick merger, panelists at this Joint Center conference will examine the economics of Internet advertising and the role of such advertising in internet competition. |
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AGENDA
Wednesday, July 18th, 2007
11:45 a.m. – 2:30 p.m.
Wohlstetter Conference Center, Twelfth Floor, AEI
1150 Seventeenth Street, N.W., Washington, D.C. 20036
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| 11:45 A.M. |
Registration and Lunch |
| 12:15 P.M. |
Welcome |
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ROBERT HAHN, Joint Center |
| 12:30 |
Presentations |
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THOMAS EISENMANN, Harvard University |
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DAVID EVANS, LECG |
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ROBERT HALL, Stanford University |
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LORIN HITT, University of Pennsylvania |
| 2:30 |
Adjournment |
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For more information, please contact Molly Wells at 202.862.5903 or [email protected].
Biographies
Thomas Eisenmann is an associate professor in the Entrepreneurial Management Unit at the Harvard Business School. He studies management challenges in businesses with network effects. Eisenmann teaches managing networked businesses in Harvard’s MBA elective curriculum. He spent eleven years as a management consultant at McKinsey & Company. As the co-head of McKinsey’s Media and Entertainment Practice during the early 1990s, he directed teams addressing a broad range of strategic, organizational, and operational issues for clients engaged in network broadcasting; cable programming; newspaper, magazine, and book publishing; and motion picture production.
David Evans leads LECG’s global antitrust practice. An authority on industrial organization, he is the coauthor or editor of six books, including Invisible Engines: How Software Platforms Drive Innovation and Transform Industries (MIT Press, 2006), which won the Best Business Book of 2006 award from Association of American Publishers, and Catalyst Code: The Strategies of the World’s Most Dynamic Companies (Harvard Business School Press, 2007). He has also written more than seventy articles published in professional journals in economics and law. Evans has written and consulted extensively on high-technology and platform-based businesses. His most recent work has concerned the economics of multisided platform businesses, product design, and tying and bundling.
Robert Hahn is Co-Founder and Executive Director of the American Enterprise Institute-Brookings Joint Center and a resident scholar at AEI. Previously, he worked for the Council of Economic Advisers. He also has served on the faculties of Harvard University and Carnegie Mellon University. Dr. Hahn frequently contributes to leading scholarly journals and general-interest periodicals, including The American Economic Review, The Yale Law Journal, Science, and The New York Times. He is the author of In Defense of the Economic Analysis of Regulation (AEI-Brookings Joint Center, 2005) and several other books. In addition, Dr. Hahn is Co-Founder of the Community Preparatory School, an inner-city middle school in Providence, Rhode Island, that provides opportunities for disadvantaged youth to achieve their full potential.
Robert Hall is the Robert and Carole McNeil Joint Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution. He is an elected member of the National Academy of Sciences. He is also a Fellow of the American Academy of Arts and Sciences and the Econometric Society, the professional organization of economists specializing in measurement issues. He has advised a number of government agencies on national economic policy, including the Treasury Department, the Federal Reserve Board, and the Justice Department. His consulting work focuses on competition and intellectual property issues in high-tech industries.
Lorin Hitt is the Alberto Vitale Term Associate Professor of Operations and Information Management at the University of Pennsylvania’s Wharton School. His research focuses on the value of information technology (IT) investments, competition and pricing in electronic commerce, and the economics of IT, especially in the banking and health-care sectors. His articles have appeared in a wide range of economics and management journals, including the Review of Economics and Statistics, the Quarterly Journal of Economics, the Brookings Papers on Economic Activity, and Management Science.
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