Informative advertising in monopolistically competitive markets

Firms spend a half-trillion dollars advertising each year. To model and examine the welfare effects of advertising with heterogeneous goods Grossman and Shapiro (1984) model informative advertising in monopolistic competition find that informative advertising is socially excessive for large numbers...

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Bibliographic Details
Main Authors: Creane, A. (Author), Manduchi, A. (Author)
Format: Article
Published: Elsevier Inc. 2022
Online Access:View Fulltext in Publisher