Advertising and Competition in Routine Legal Service Markets: An Empirical Investigation
AbstractThis study's findings, together with the results of earlier studies of the relationship between advertis ing and market prices, provide considerable empirical support for the pro-competitive view of seller advertising. Data on attorney fees an d advertising practices in seventeen metropolitan areas across the U. S. were used to estimate the effect of market advertising intensity o n firm demand elasticities, holding other possible influencing factor s constant. The results obtained for all three routine legal services examined are consistent with the hypothesis that advertising increas es competition among sellers in a market. Copyright 1987 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 36 (1987)
Issue (Month): 1 (September)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
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- Tülin Erdem & Michael Keane & Baohong Sun, 2008. "The impact of advertising on consumer price sensitivity in experience goods markets," Quantitative Marketing and Economics, Springer, vol. 6(2), pages 139-176, June.
- Stone, Michael P. & Miceli, Thomas J., 2012.
"Optimal attorney advertising,"
International Review of Law and Economics,
Elsevier, vol. 32(3), pages 329-338.
- Renato D.B. Gomes & João Manoel Pinho de Mello, 2006. "Non-price advertising and price competition: a theory, and evidence from the Brazilian beer market," Textos para discussÃ£o 525, Department of Economics PUC-Rio (Brazil).
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