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Endogenous Information Acquisition in Coordination Games

Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2009

In the context of a "beauty contest" coordination game (in which pay-offs depend on the proximity of actions to an unobserved state variable and to the average action) players choose how much costly attention to pay to various informative signals; they endogenously select information sources and...

Persistent link: https://www.econbiz.de/10005009765

Integration and Search Engine Bias

Cornière, Alexandre de; Taylor, Greg - Department of Economics, Oxford University - 2013

effect on users by reducing the nuisance costs due to excessive advertising. Its net effect is therefore ambiguous in …

Persistent link: https://www.econbiz.de/10011004347

Sinking the Internet: Pricing, Sunk Costs, and Market Structure Online

Smith, Howard; Latcovich, Simon - Department of Economics, Oxford University - 2000

characteristics and more concerned about hidden quality characteristics. Online retailers rely more on advertising than traditional …. Advertising and revenue data for the online book market reveal that consumers respond to advertising rather than low prices. As … the market increases, advertising costs escalate and there is no new entry. Advertising to sales ratios and market …

Persistent link: https://www.econbiz.de/10010604885

On the Simple Economics of Advertising, Marketing, and Product Design

Myatt, David P.; Johnson, Justin P. - Department of Economics, Oxford University - 2004

design; advertising, marketing and sales advice; and the construction of quality-differentiated product lines. We also … suggest a new taxonomy of advertising, distinguishing between hype, which shifts demand, and real information, which rotates …

Persistent link: https://www.econbiz.de/10005090674

Ordered Search and Equilibrium Obfuscation

Wilson, Chris M. - Department of Economics, Oxford University - 2008

This paper demonstrates the incentives for an oligopolist to obfuscate by deliberately increasing the cost with which consumers can locate its product and price. Consumers are allowed to choose the optimal order in which to search firms and firms are able to influence this order through their...

Persistent link: https://www.econbiz.de/10005051141