The Effect of VCR on Major Media Markets in Korea, 1961–1993

By applying the Principle of Relative Constancy, this article extends prior research about consumer expenditures on mass media. To analyze four major mass media markets in Korea, including newspaper, movie, television, and VCR, this study employs two complementary methods: a regression analysis to test the Relative Constancy Hypothesis and market scale and elasticity analyses to measure the level of fluctuation of media markets during selected time periods.