Preference Externalities: An Empirical Study of Who Benefits Whom

I am grateful for much stimulating discussion to Jeff Milyo and Peter Siegelman, who is a coathor on a related project, and to Spencer Glendon and Dennis Yao for comments. Seminar participants at Wharton, the FCC, the George Washington College of Law, and Cornell provided comments on a related paper containing some results reported herein. All errors are my own. The views expressed herein are those of the authors and not necessarily those of the National Bureau of Economic Research