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 MARKETS, MEDIA, AND REALITY 271

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272 AMERICAN SOCIOLOGICAL REVIEW

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 MARKETS, MEDIA, AND REALITY 273

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274 AMERICAN SOCIOLOGICAL REVIEW

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 MARKETS, MEDIA, AND REALITY 275

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278 AMERICAN SOCIOLOGICAL REVIEW

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 MARKETS, MEDIA, AND REALITY 279

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280 AMERICAN SOCIOLOGICAL REVIEW

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 MARKETS, MEDIA, AND REALITY 281

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(17) aASD2_1228 5.89 5.42 0 22.17 .09 .57 -.12 .08 .52 .26 .07 .24 .33 .20 .15 .27 .23 .78 .75 .96

aASD 1228 2.02 1.34 0 4.71 .15 .62 -.12 .15 .59 .35 .14 .25 .32 .24 .17 .31 .25 .81 .73 (15) ASDM2 1228 6.72 6.87 0 25 .04 .35 -.03 .03 .46 .16 .03 .21 .30 .14 .13 .20 .19 .95

(14) ASDM 1228 2.04 1.60 0 5 .13 .48 -.04 .13 .57 .30 .11 .22 .28 .21 .16 .27 .23

(13) aARDX 2 1228 1114 1908 0 15334 .21 .36 .03 .22 .37 .23 .04 .27 .21 .87 .92 .93

(10) aARD 1228 .69 .74 0 4.28 .23 .39 -.01 .23 .38 .35 .12 .24 .22 (12) aARDX 1228 21.97 25.15 0 123 .28 .46 .01 .28 .46 .35 .12 .33 .26 .96 .87

(11) aARD2 1228 1.02 1.68 0 18.36 .14 .26 .01 .14 .26 .21 .02 .17 .19 .91

(6) S 1228 7.24 2.44 2.20 12.9 .44 .57 -.03 .44 .58 E3

(9) D ,_! 1228 6.44 13.02 7 74 .08 .27 .04 .07 .28 .07 .02 .29

(8) E 1228 12.70 8.0212281 19.00

(7) A a E
3724.30.09.13 .25 .08 .09 .27 .16 .08
98 .27 .26 -.05 .27 .27 .67 ^

(4) C a M 1228 18.65 57.63 0 590 .96 .64 -.03 ?

(3) E 1228 .02 .15 0 1 -.05 -.13 ?

(1) C a 1228 19.5 59.59 0 590 O

(5) C a C a M 1228 9.49 1.95 0 50 .66 .87 -.04 .66

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Tab 1. D Sa a C a Ma Q

(2) C a C a 1228 9.63 11.05 0 50 .66 2

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 MARKETS, MEDIA, AND REALITY 283

Tab 2. ML E a C -S a,T -S ,N a -B a M C a b
_E a , Ma C W a (1980 1990)_
C H 1H 2
Fa M 1M 2M 3
C a _a .002 .002 .002
(.000)*** (.000)*** (.000)***
S .254 .245 .201
(.036)*** (.036)*** (.036)***
A (a ) -.013 -.014 -.012
(.004)*** (.004)*** (.004)***
E -.018 -.015 -.021
(.011) (.012)* (.012)
a A a R a D .395 .378
(.104)*** (.102)***
a A a R a D 2 -.152 -. 144
(.041)*** (.040)***
A a S D M .366
(.073)***
A a S D _\2 -.049
(.014)***
C a -1.089 -1.048 -.694
(.450)* (.445)* (.449)
Ob a 1228 1228 1228
F 74 74 74
P 41 41 41
. .J 39 41 43
M I
N : C
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a A a a a
a ab .
* <.05; **/?<.01; ***/?<.001 (

T ab
a
a ( 2 = 94.37, .
b . = 3,/
M 1 a
aa , , ba
,
C a a ; a
a a . M 2
H 1, a
a a (ARD) a a
a a . T
a ARD a A
< .001; 2 = 15.71,
a . .
M 3 T a
H 2, b
a a- - a a
, ASD .( T < a
.001;
2; < .01). I a a-
a a , a
a a a b
a , a a ,

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284 AMERICAN SOCIOLOGICAL REVIEW

a a b a a ASD a a ab a b
a - . a a , a .

M a a a .S ARD A a a a
ASD ( a a ,a ( 3a 4). E a
H 2), I H 1a 2,
Tab 3 a
- a, - , OLS a
a a a a .T a a H
3a 4. M 1
a ARD ASD ( < .05)
.S a ,b a
b ASD ARD. W ARD
a a a a .
a a a a a
M 2 H 3,
a a a , a ,
a ARD a a U
a ARD' a a a a ( <
a a a a .001; 2 = 29.94, . . = 2; < .001). M 3
a b ASD. T a , H 4,
a a a a ASD a a a U- a a
b b a , a a ( < .001; 2 =
- .I b ARD 55.17, . . = 2;/?<.001).

Tab 3. ML E a C -S a,T -S ,N a -B a M C a
C a b E a , Ma C W a (1980 1990)

C H 3H 4
Fa M 1M 2M 3
C a C a M .029 .027 .022
(.004)*** (.004)*** (.004)***
S .298 .287 .253
(.039)*** (.039)*** (.037)***
A (a ) -.000 .001 .001
(.005) (.004) (.005)
E -.005 -.010 -.013
(.010) (.011) (.010)
a A a R a D .538 .530
(.069)*** (.069)***
a A a R a D 2 -.079 -. 168
(.013)*** (.013)***
A a S D _ .477
(.068)***
A a S D M2 -.075
(.013)***
C a -2.453 -2.153 -2.072
(.507)*** (.499)*** (.498)***
Ob a 1228 1228 1228
F 74 74 74
P 41 41 41
. . % 39 41 43
M I (X
N : C
S a a a a .
a A a a a
a ab .
* < .05; ** < .01; *** < .001 ( -

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 MARKETS, MEDIA, AND REALITY 285

T a a a ,Ia a
b a a a a a , a a , ARD
a a a a a ,a ASD. T a
a a a a ' a
a a a a a ; a
.C a a a
-b a a .
a a ; U , a a " a
a a a a ," a
a a b a - .
PR a .T A M 3 a a a
a a a a b a a , a
?b a ,a
ab a a ? .I M 4, , a
a b a a
a a ( < .01), a
a a b . (X2 =18.51, . . = 9 < .001), a
W - ASD a b , - a
ASD a a a a a ba a
b . - .N a a
a
A a a ( 5,6, a .T a a
a 7). Tab 4 a a b a a
a a a .
a M 5 H 5,
a .I a STATA a a ARD a a U- a
a a .W ARD a
b S (1999).
P a a a a a a a M 4, a a
,b a ab a a a a a
a a . a , a a
M 1 , .A , a
a a ,a .W a ARD a ARD2 a a a .
a a , .M 2 W a a a
a a .C b a a a ,
a , a a a , ARD a ARD2 a b a
, a a a a .R a
.W a - a , a ,b a a
a ( < .05), a a b a
a a a ( 2 = 4.61, a .
. . = 2,/? <. 10). E M 6a 7 H
a a 6, a a aU
a a , a a ASD. W
a a a U- a a
a : b a a , a a
a a a b
a a b
. a .M 6 a ASD a a
M 3a 4 a a a a , a a
a a a , a ab ( 2 = 3.03, . . = , <. 10).
a a a ,a a W ASD2 a M 7,
ARD a ASD a b a ( < .01) a a ,
a a a a a ,a b a
.T a a-ba a a a a a

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 (.136)** (.001)**

(.276)** (.306)**

(.151) (.153)-1.380
(.168) (.592)**
(.237)* (.641)** (.777)**

-1.230 (.526) (.536) (.541) (4.461)**

aASD -.519 2.570 2.876

aARD -.634 -.613 -.813 -15.655

aARD2 .254 .228 .278 2.276

(.041)** (.043)** (.061) (.111) (.127)

*) (.136)** (.139)** (.136)** (.133)**

? >
(.061) (.005)** (.005)** (.010) (.018) (.022)

(.010) (.008)* (.009)* (.010)* (.009)* (.008)* (.008)* ?

(.225) (.231) (.225) (.237) (.236) (.013)* (.012)* (.015)** (.020)** (.020)** (.020)** (.021)** (.018)** O
(1.323) (1.035)* (1.142)* (1.274)* (1.214)* (.972)* (.988)* ? aC a -.079 .017 .017 .003 -.010 -.016 S

aC a C a -.230 -.222 -.103 -.002 -.006 ^

P
Fa M 1M 2M 3M 4M 5M 6M 7M 8
S -.005 -.008 .244 .398 .409 .433 .455.017.428.137? .162 .185 .168 .160 .274 .245 Q

LRC 2_4.609_7.83 _18.509* _L310_3.032_ 0.1 6* _1 .50 *

N :C aa a ;b aa a .Sa a a a . ARD = A a R a D ; ASD = A a

Tab 4. ML E a P C a Ra M E Ma C W a (1980 1990)

-34.530 -32.226 -26.517 -17.263 -16.608 -15.092 -5.034 -.699

P a D ,_, -2.431 -2.129 -2.380 -2.554 -2.450 -2.194 -2.104 8

A a E ( a ) -.030 -.030 -.046 -.059 -.056 -.058 -.069 -.061 ?

. b. Ob29 31a 321,228331,228351,228 361,228 371,228 381,228 1,228 1,228

aA aa a - a a a ab .

_C _H5_H6_H7

* < .05; ** < .01; *** < .001 ( - a H 5, 6, a 7, ).

P a D ,_ 2 .019 .017 .019 .020 .019 .017 .017 >

b 1,228 - b a 74 41 b a

ARD .434 ARD -.002 S D .

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 MARKETS, MEDIA, AND REALITY 287

( < .01; 2 = 20.12, . . = 9 < .001). T a a ab a ? a "

a a a a a ."
a a a b F 5a 6 '
a a ,b .H a a a ,
b F 5 a a a
a a .T a ARD'
a .I a a,
a b a , a a a
a 3a 6 9; a a , a
? a , b a
a b
a a b
a a a .I a 3, a ARD
a .T a
a ,ab a a
" a ba b "a a ,
a ,a a 6 a .I a 7a
a , "T a b
8, ARD a ,b
a ."
ARD a .N a a
M 8 H 7,
a a a ARD a
a a (1.6 a 1.3, ). I
a a a a .W , a a
a a (ARD X )a a b (ARD = 0), a
a a , b a a a a
a ( < .01), a a a a a a
( 2 = 11.51, . . = 1, < .01). T .
a F 6 a b
b a a a b
a a a a a .O a a

*-[---.-.-----./. .-. /
/
? . -^
?>J --?-? ? ?-?,?.???--?????-.--_?.- ?. . ? . , -.->??.??

O -.-? .: ::: :': :':': : : ":': : : : ::: : ::':'

S-1-;-1
0 12 3
ARD
-Q4 89 -Q4 88-Q4 87 Q4 86 - Q4 83

F 5. I a A a R a D (ARD) E E
N : E a b ARD a T . Ma a (1980 1990).

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288 AMERICAN SOCIOLOGICAL REVIEW

\ .
<* -
\ .
\ .
75 \
> ^ ^^

CD _ ^^
H-1-1- -
0 10 20 30 40
P (1=Q1 1980)

-ASD=1 M a ASD (1.7)

- M a +.5S.D. - M a +1 S.D.

F 6. I a A a S D (ASD) E S a
N : S a b ASD. Ma a (1980 1990).

, a a a a a a a ,a a .
a (ASD = 1) aI 20 a a ab a
, b a b a a a a ,a a
a ab . A a aa ASD a a a
(1.7), a a a 60 , , a a a a a
a - a . F ASDa a a a
a a a a ab a ,a a a a a a
a a a a 90 , ab , a a ,a a a
a .
a b a a
a a a .
L a a
DISCUSSION a .T ' a
a .A I a
T a a a a a 60,000 a a
a b -b . a 10- a , - a
T , a a a a ab
a ab a a , a a a .W a
a a a a ab a a a a a a
a b b a a a ab a
a . A a a a a a , a
a a a a ? , a b a
a , a a a a a a a a a .F
" a ." a , a
O a , a a a a .A a ,
a a a, a .B a
a a a a , a a b a a

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 MARKETS, MEDIA, AND REALITY 289

, a a
a a b a b a a a .
a a .F a , a a a ' L a a , a a a a
a a a a a a a
a a a a a
(G 2004; W b ,T a ,a .N a
Ra 2006). T a a a a a a a
ab a a
b a a a a . a - a a I
T a a a ab , a ,b a a a a a
a a , a b a a a a a
a a a a a a a .
SRI 1960 a a X PARC T ' a a a
1970 . R (2000) a a a a .F
a a a b ab
a ; Ba a O a a a ( . ., P
(1992) a a a a . 2005). I a a , a
a a
, b b a a
a a a ,
a a .F
a a .
b a a , - ,
a a a .
F a a a , C b .T
a a a b .F ,I
a a b a a . a a-ba a a a
A b , , - a a a , a b b a
a a .W a a a a a
a b , a a .T
a a a a W ' (1981, 2002) a a
.D a a a b a
, a a a
a a a a a ab ; a a a a a W a .
a a a S a , a ab
a b a a a a
a .
a .F a
a . S ,I a a
a a b
.T a a
C b .A a a
, a a
a - a ab a a a a a
a a a b a .A
a a ( A ). I a ,I a
a a a a a a ,b .C a
a a b a a a a a a R a a ,
(Ca 1994; M 1998; V 1986), a a a a a
a a ab b , a
a - a a a a a a a ,a a a
a a a .B a a a a .
,I a a U a , a a a
a b b a a a a a a
a a a a ab a a
.T a a ,a (Ba
a a a P 1995). C a a ab

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290 AMERICAN SOCIOLOGICAL REVIEW

a G 2001; L b a V a 2003;
b b a a a a S ab a G 2005).
a a a
.B CONCLUSION
a a a ,
a a a a b T a ' b a
a ab a a a ab
a a a b b a a a a , a a
a a .T a a a ab a
a a
a a a a
a . a .N a
S a b a a a a a b
, , a a a a
b a a a a a
a a a .C , a , ' b a
a a - a a .I a
a a a a ,a a a
a ( . ., " " a ab
" " a ). M a a a a a .
a a a ab , T a
b a a a a .M a a a a
a a .A ,
a a .W a a a a a
a a a b a
a b , a a b a b a a
a a ab a ? a a b .
b a a A a a
a .F a b b a , a
a b ,a a a a
a a ba , a b
b a a a a a a a ,b a
.C a a a a a .
a a , W a a , a a
a a a a b a a .A
a a a a a
a ba a ? a a a a a
b a a , a a a a a
a a b . a , a a a
T , a a a b .B a a a
a a a ab . B a a a ,
a a a R ' a
a a ,I a ab (1967 [1992]:374) a a
a a a a a a a a a a a a a
b a a a a a a a a ? a
.T a a , b .
a a a
Ma T a K a A a P a
a a
U S Ca a' Ma a
(J 2007; M K
S B .H a a
a . 2003; P , Ha a ,a Ca 2002) a a a a a a,
a (P a . 2005), a a a a a ,
a a a a a a
a a a a a a a a .W b a a a,
(G 2004; L b a a a

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 MARKETS, MEDIA, AND REALITY 291

a a a a a a .I a , b
a a .I a a , a a a
a a a a a a .I
ab .
- a
b - - a (M), a
APPENDIX , a b
/a a - a ' .
C a , a a
T a , (A F) a
a a a a b
a a .T a
Ca ' (2002) a b
a a a a
a a a - a a a
a a : .F
a a .D a
a , a
a a a
(1 9) ab . (T a ,
a , Ca a a a
a a a a ,b
a a a a
a a a " a " a a a ab
( Ca 1986, 1994). .) U a a a , a
a F A S 1,
W a Ca ' a a a
3, 7, 8, a 9; F B 2, 3, a 7; F C
a a
4; D 4, 5, a 6; F E 5; a F F
a a a a a a a
a a " ," a b 4,7, a 8. A a F A,
a a b a a
a a a a a a
a a a a
a b a , a - a
- a .T
a a a " a ."
a a0 1 a
S a ,I " a
"b a a - ( )a
a a ( ). T - a
a a . M a a
a a
M E a Ca a a .F a ,F Ba F
a ;F Ca Fa
M aC M a
.
C a
T - a a a
A , a ab a a a ( )
a a a a b a
a a a a a a
- a a a a .A a
a .W - a
a a a a , a b a a
a a a a a .T a
, a a (" a a ")
,a a a a a - a
b a b -b - - a a b
a . Ca S2S a b .
(S S ), a a S a a a a a a
ba a b a a . a a a
F a a a a a ' a
a a a , a a a a
a a a a a a , a ,a
,b , a , a .I
, , ,a a a a F A, F
a ( ). T F a
a a a b , M. P a a a , a F F
a

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292 AMERICAN SOCIOLOGICAL REVIEW

F -b -S I Ma :C Ma N a a
AM Ma F -b -F , C -M
Ma (M)

1 2 3 4 5 6 7 8T9] M IaJ B I C 1 D I E I F
LaL L L E I^-L L L I ; M 1 11 I I1
[EEE^EELQ_ _LQ_ _I 11 1 M 11 11 I 11
EEELQ_Q [ "L S"L [ " I H^^WBB H " - - ? ?.$<, .' ,;,.* ..,W,.. MW^^W^^^?

[SES" TQ" J_ES"[ _ 1 ^W- ^M \ \

-U?- 1- I-?, ? * < M ? ?* <( U 'a W ^ ^ ,! MP?^^^^^

I 111111101111101 TH 1 I ; 1'^TF TM

C a : \^""^^
S F a M\/
( a ). \ / I
?--?

F A. P G S

ab a R C
. I ?T I a C a I , a a
F F a a C a ." T A a Ma a R a
19:645-70.
a a a " a ."
A , W. B a . 1994. I a R
a , F C aa .Pa I a a
D E .A A b , MI: T
a , 3 a 5 a
U M a P .
" " a 3; a ,
Ba ,J A. C. a C O . 1992.
a a a
"I a E b a D a
. O a a a P a ." A a
I b a a a S a R 57:540-59.
b a a Ba ,J A. C. a Wa W. P . 1995.
a ,a a , b - "C a a I a E
a a a a O a a :C Ha a , Ca ,
a a a a . D ,a T ." A a S a
R 60:529-38.
REFERENCES B , G. G . 1986. "T a aH P a
W a ." P . 1-17 P
A ,H a E. a C. Ma F . 1994. "F ACM C H P a

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