competing directly in utility rather than prices. The paper i) reproduces and extends many equilibria from the existing …

Using information on advertising and mortgages originated by subprime lenders, we study whether advertising helped … for mortgages sold to less sophisticated consumers. We exploit regional variation in mortgage advertising induced by the … entry of Craigslist and other tests to demonstrate that these findings are not spurious. Analyzing advertising content …

We use a unique dataset that combines information on advertising by subprime lenders and mortgages originated by them … from 2002 to 2007 to study the relationship between advertising and the nature of mortgages obtained by consumers. We … relationship between the intensity of local advertising and the expensiveness of mortgages extended by lenders within a given …