Limited Information and Advertising in the U.S. Personal Computer Industry
Abstract
Traditional discrete-choice models assume buyers are aware of all products for sale. In markets where products change rapidly, the full information assumption is untenable. I present a discrete-choice model of limited consumer information, where advertising influences the set of products from which consumers choose to purchase. I apply the model to the U.S. personal computer market where top firms spend over $2 billion annually on advertising. I...
Paper Details
Title
Limited Information and Advertising in the U.S. Personal Computer Industry
Published Date
Jan 1, 2008
Journal
Volume
76
Issue
5
Pages
1017 - 1074
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