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| Author: | Bagwell, K. Ramey, G. |
| Title: | Advertising as information: matching products to buyers |
| Journal: | Journal of Economics & Management Strategy
1993 : SUMMER, VOL. 2:2, p. 199-243 |
| Index terms: | ADVERTISING INFORMATION BUYING |
| Language: | eng |
| Abstract: | The authors consider communication of quality via cheap talk and dissipative advertising expenditures, when consumers have heterogeneous tastes for quality, and price information must be acquired through costly search. For search goods, cheap talk communicates quality when fixed costs are roughly constant across quality levels, while if fixed costs vary greatly with quality, then firms having the higher fixed-cost quality level use dissipative advertising. |
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