Abstract
Empirical studies suggest that advertising is not an important determinant of consumer behaviour and that advertising follows rather than leads cultural trends. On the core issue of whether advertising is anti- or pro-competitive, the evidence suggests that advertising is associated with lower prices.
This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume
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Bibliographic Addendum
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Schmalensee, R. (2008). Advertising. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_354-2
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DOI: https://doi.org/10.1057/978-1-349-95121-5_354-2
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Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
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Chapter history
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Latest
Advertising- Published:
- 14 March 2017
DOI: https://doi.org/10.1057/978-1-349-95121-5_354-2
-
Original
Advertising- Published:
- 31 October 2016
DOI: https://doi.org/10.1057/978-1-349-95121-5_354-1