) industry. I present an empirical discrete-choice model of limited information on the part of consumers, where advertising …

downgrades quality whereas the seller sometimes upgrades it. Our model of targeting with endogenous product quality provides some … new insights into the way the transition from mass to specialized advertising can affect market outcomes. Quality …

Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however …, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from R … quality and marginal cost are both subject to chance. In a static framework (no repeat purchases and no informed consumers …

conformity. In equilibrium, both quality and cost leaders choose higher advertising intensities and charge higher prices than …

power and in quality to stimulate content consumption. The profit-maximizing tariff is zero if productive data are highly …

-informative advertisements can affect people’s choices by influencing their perception of product quality. We present a model in which people can … learn about product quality by observing the choices of others. Consumers are, however, not able to fully distinguish … equilibrium the most observed product is always most likely to be of the highest quality. The analysis has important policy …

that most of the information in the report cards does not reliably measure quality of care, but a subset of seven measures …Since 2009, German nursing homes have been evaluated regularly with quality report cards published online. We argue … does. Using a sample of more than 3,000 nursing homes with information on two waves, we find a significant improvement in …