The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
A Model of Advertising and Product Quality
Abstract
This essay presents a model of a single market in which goods of different qualities are sold and sellers advertise. Sellers advertise noncooperatively, knowing rivals' outlays and buyers' behavior patterns. Buyers react plausibly but not optimally to experience gained by purchasing and to sellers' advertising. Various properties of equilibria are analyzed. For some parameter values, the lowest-quality brands have the largest equilibrium market shares, advertising budgets, and profits. This is especially likely if buyers' behavior indicates confidence that better brands spend more on advertising.
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Citations
Cites
Free competition and the optimal amount of fraud
Darby, M. R., & Karni, E. (1973) · The Journal of Law and Economics · doi:10.1086/466756 · Cited by 3,947
A two-armed bandit theory of market pricing
Rothschild, M. (1974) · Journal of Economic Theory · doi:10.1016/0022-0531(74)90066-0 · Cited by 618
Cited by
Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence
Zeithaml, V. A. (1988) · Journal of Marketing · doi:10.1177/002224298805200302 · Cited by 18,292
The Role of Market Forces in Assuring Contractual Performance
Klein, B., & Leffler, K. B. (1981) · Journal of Political Economy · doi:10.1086/260996 · Cited by 3,653
Defensive Marketing Strategy by Customer Complaint Management: A Theoretical Analysis
Fornell, C., & Wernerfelt, B. (1987) · Journal of Marketing Research · doi:10.1177/002224378702400401 · Cited by 1,395
The effects of information and company reputation on intentions to buy a business service
Yoon, E., Guffey, H. J., & Kijewski, V. (1993) · Journal of Business Research · doi:10.1016/0148-2963(93)90027-m · Cited by 472
Biswas, D., & Biswas, A. (2004) · Journal of Interactive Marketing · doi:10.1002/dir.20010 · Cited by 294
ORGANIZATIONAL PERCEPTION MANAGEMENT
Elsbach, K. D. (2003) · Research in Organizational Behavior · doi:10.1016/s0191-3085(03)25007-3 · Cited by 277
Dellarocas, C. N. (2001) · SSRN Electronic Journal · doi:10.2139/ssrn.289967 · Cited by 25
Metadata
- Authors
- Schmalensee, R.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1978-06
- Volume
- 86
- Issue
- 3
- Pages
- 485-503
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2055936712
- Cited by
- 437
- References
- 2
- FWCI
- 30.27
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
