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"The news media affects consumers' perceptions of the economy through three channels. First, the news media conveys the latest economic data and the opinions of professionals to consumers. Second, consumers receive a signal about the economy through the tone and volume of economic reporting....
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Does advertising help consumers to find the products they need or push them to buy products they don't need? In this … paper, we study the effects of advertising on consumer mistakes and quantify the resulting effect on consumer welfare in the …'s exposure to direct mail refinance advertising and their subsequent refinancing decisions. Even though on average borrowers …
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