标题： 测量消费者对音频广告的敏感度：潘多拉互联网电台上的长期实地实验 显示英文标题

标题： Measuring Consumer Sensitivity to Audio Advertising: A Long-Run Field Experiment on Pandora Internet Radio

摘要： 一项涉及近3500万Pandora听众的随机实验使我们能够衡量消费者对广告的敏感度，这是数字内容广告支持时代的重要研究课题。 该实验将听众随机分配到九个处理组，每个组接收到不同水平的音频广告打断他们的音乐收听，最高处理组接收到的广告数量是最低处理组的两倍多。 通过维持21个月的一致处理分配，我们测量了长期需求效应，并发现广告负荷敏感度是为期一个月实验所获得结果的三倍。 我们展示了广告负荷对最后一个月的收听小时数、收听天数以及完全不收听的概率的负面影响。 使用一种单独改变每小时商业中断次数和每次商业中断中广告数量的实验设计，我们发现听众主要对每小时的总广告数量作出反应，更倾向于更频繁但更短的广告插播。 最后，我们发现增加广告负荷导致Pandora无广告付费订阅数量的增加。 重要的是，我们表明观察性方法通常会导致这些效果的偏差估计，甚至是方向错误的估计，这突显了实验数据的价值。 显示英文摘要

摘要： A randomized experiment with almost 35 million Pandora listeners enables us to measure the sensitivity of consumers to advertising, an important topic of study in the era of ad-supported digital content provision. The experiment randomized listeners into nine treatment groups, each of which received a different level of audio advertising interrupting their music listening, with the highest treatment group receiving more than twice as many ads as the lowest treatment group. By maintaining consistent treatment assignment for 21 months, we measure long-run demand effects and find ad-load sensitivity three times greater than what we would have obtained from a month-long experiment. We show the negative impact on the number of hours listened, days listened, and probability of listening at all in the final month. Using an experimental design that separately varies the number of commercial interruptions per hour and the number of ads per commercial interruption, we find that listeners primarily respond to the total number of ads per hour, with a slight preference for more frequent but shorter ad breaks. Lastly, we find that increased ad load led to an increase in the number of paid ad-free subscriptions to Pandora. Importantly, we show that observational methods often lead to biased or even directionally incorrect estimates of these effects, highlighting the value of experimental data.