Customers can sometimes learn unanticipated or hidden use value of a firm's product whereas the non-customers remain … uninformed about that extra value. A monopolist will increase its profit by informing the non-customers of its product's hidden … actually make a higher profit if it keeps its hidden value secret from its competitor's customers even if advertising to inform …

loyal customers and are costly to administer, but produce uncertain changes in spending patterns. We use a large and … amount of heterogeneity across customers. We find that location relative to competitors is the factor most strongly … spending will change after joining the LP. We use high-dimensional data on spatial relationships between customers, the focal …