Firms spend substantial resources on marketing and selling. Interpreting this as evidence of frictions in product …

Marketing and distribution expenses are responsible for about a third of the cost of active management in the mutual … fund industry. We develop and estimate a structural model of mutual fund marketing with learning about unobserved skill and … costly investor search. Our estimates suggest that marketing is nearly as important as performance and fees for determining …

I develop a new theory of marketing costs and introduce it into a model of trade with product differentiation and firm …

Intensive and controversial marketing of infant formula is believed to be responsible for millions of infant deaths in …

which argues that firms acquire customers by temporarily offering low markups, and later raise markups once customers are … locked in. However, it is consistent with a literature which emphasizes the importance of marketing and advertising …