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| Tekijä: | Horstmann, I. MacDonald, G. |
| Otsikko: | Is advertising a signal of product quality? Evidence from the compact disc player market, 1983-1992 |
| Lehti: | International Journal of Industrial Organization
2003 : MAR, VOL. 21:3, p. 317-345 |
| Asiasana: | Advertising Product quality Pricing Signaling |
| Kieli: | eng |
| Tiivistelmä: | Controlling for product features, firm heterogeneity, and aggregate effects, advertising increases after the player is introduced, but at a decreasing rate; and price falls from the outset, and at an accelerating pace. These patterns are inconsistent with both the perfect learning in papers by Kihlstrom and Riordan (J. Polit. Econ. 92(1984)427 and Milgrom and Roberts (J. Polit. Econ. 94(1986)796) and the imperfect learning in Horstmann and MacDonald (J. Econ. Manag. Strat. 3(1994)561) versions of paper by Nelson (J. Polit. Econ. 82(1974)729). |
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