A model of repeat advertising |
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Authors: | Nicolas Sahuguet |
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Institution: | HEC Montréal, CIRPEE and CEPR, Canada |
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Abstract: | Advertising conveys information not only about product characteristics but also about the number of consumers who know about the product. More advertising may shift expectations towards a larger consumer base, increasing buyers' valuation when there are consumption externalities. |
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Keywords: | M3 |
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