new insights into the way the transition from mass to specialized advertising can affect market outcomes. Quality … promotion, in a model where a seller employs informative advertising to launch a new product. We propose a fairly general … advertising technology for the study of three promotional strategies—mass, imperfectly targeted, and customer directed advertising …

new insights into the way the transition from mass to specialized advertising can affect market outcomes. Quality … promotion, in a model where a seller employs informative advertising to launch a new product. We propose a fairly general … advertising technology for the study of three promotional strategies—mass, imperfectly targeted, and customer directed advertising …

This paper shows how a firm can use non-targeted advertising to exploit consumers' desire for social status. A … monopolist sells multiple varieties of a good to consumers who each care about what others believe about his wealth. Advertising …

This paper shows how a firm can use non-targeted advertising to exploit consumers' desire for social status. A … monopolist sells multiple varieties of a good to consumers who each care about what others believe about his wealth. Advertising …

oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in knowledge: some consumers … know both the prices and quality of the products offered, some know only the prices and some know neither. We show that two … types of signalling equilibria are possible. Both are characterised by dispersion and Pareto-inefficiency of the price/quality …

Firms signal high quality through high prices even if the market structure is highly competitive and price competition … is severe. In a symmetric Bertrand oligopoly where products may differ only in their quality, production cost is … increasing in quality and the quality of each firm’s product is private information (not known to consumers or to other firms …

We consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in … knowledge: some consumers know both the prices and quality of the products offered, some know only the prices and some know …-inefficiency of the price/quality offers. But, better price/quality combinations are signalled with lower prices in one type and with …

Firms signal high quality through high prices even if the market structure is highly competitive and price competition … is severe. In a symmetric Bertrand oligopoly where products may differ only in their quality, production cost is … increasing in quality and the quality of each firm’s product is private information (not known to consumers or to other firms …

We model the idea that when consumers search for products, they first visit the firm whose advertising is more salient …. The gains a firm derives from being visited early increase in search costs, so equilibrium advertising increases as search … heterogeneity in advertising costs. Firms whose advertising is more salient and therefore raise attention more easily charge lower …

. Information can come through two different channels: advertising and sequential consumer search. We arrive at the following … results. First, there is no monotone relationship between prices and the degree of advertising. Second, advertising and search … are “substitutes” for a large range of parameters. Third, when the cost of either search or advertising vanishes, the …