Advertising and Entry: The Case of Physician Services
AbstractThis paper examines the entry implications of physician advertising. Evidence suggests that advertising inhibited entry into this market. Nevertheless, experienced physicians (incumbents), to whom advertising would offer the greatest financial benefit, in fact advertise less--a paradox that may be explained by nonfinancial concerns, such as unwillingness to break well-internalized professional norms against advertising. Physician advertising has risen sharply in recent years and it appears that this trend will continue. If incumbents increasingly resort to advertising, there could be substantial redistribution of income from less-well-established physicians to better-established ones. Copyright 1990 by University of Chicago Press.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 98 (1990)
Issue (Month): 3 (June)
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- Robert Bloomfield & Vrinda Kadiyali, 2005. "How Verifiable Cheap-Talk Can Communicate Unverifiable Information," Quantitative Marketing and Economics, Springer, vol. 3(4), pages 337-363, December.
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- Jason R. Barro & Michael Chu, 2002. "HMO Penetration, Ownership Status, and the Rise of Hospital Advertising," NBER Working Papers 8899, National Bureau of Economic Research, Inc.
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