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| Author: | Meurer, M. Stahl, D. II |
| Title: | Informative advertising and product match |
| Journal: | International Journal of Industrial Organization
1994 : MAR, VOL. 12:1, p. 1-19 |
| Index terms: | ADVERTISING MARKET STRUCTURE WELFARE |
| Language: | eng |
| Abstract: | This paper studies informative advertising in a variety of market structures for which some consumers are informed about two differentiated products while other consumers are uninformed. The author characterizes a unique symmetric subgame perfect Nash equilibrium in advertising and pricing, and analyzes the welfare properties of the equilibrium. Remarkably, total surplus is non-monotonic in advertising. In a duopoly market, the equilibrium level of advertising may be more or less than socially optimal. |
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