Many advertised products are established and have little quality variation. For these products advertising signaling explanations are unconvincing. We develop a coordination model of advertising with consumers observing ads probabilistically and never observing advertising levels. Consumers who...

We use a panel data set that combines annual brand-level advertising expenditures for over three hundred brands with measures of brand awareness and perceived quality from a large-scale consumer survey to study the effect of advertising. Advertising is modeled as a dynamic investment in a...

We investigate the dominant role of advertising - whether it provides information or changes consumers' brand perceptions - for a wide range of product categories. For the empirical analysis, we assembled a panel data set that combines annual brand-level advertising expenditures for over three...

It is estimated that companies in the U.S. spent $800 million in 1998 to quot;acquire talent -- entertainers, athletes and other high profile personalities -- to spotlight in advertising, promotion and PR campaignsquot; (IEG Endorsement Insider). Such ads appear in a variety of media. How do we...