emerging and developing countries. This fact is surprising considering the background of relatively low local advertising …Das internationale Werbefestival in Cannes ist einer der wichtigsten internationalen Gradmesser für kreative Werbung …

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 …