Christou, Charalambos; Vettas, Nikolaos - C.E.P.R. Discussion Papers - 2003
We study informative advertising within a random-utility, non-localized competition model of product differentiation …. In a symmetric equilibrium, advertisement is sub-optimal when product differentiation is small, and excessive otherwise … that, while present in earlier models of informative advertising, has not received enough attention). As product …