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Advertising and Competition in Routine Legal Service Markets

Author

Listed:
  • Schroeter, John R.
  • Smith, Scott L.
  • Cox, Steven R.

Abstract

This study's findings, together with the results of earlier studies of the relationship between advertising and market prices, provide considerable empirical support for the pro-competitive view of seller advertising. Data on attorney fees and advertising practices in seventeen metropolitan areas across the U.S. were used to estimate the effect of market advertising intensity on firm demand elasticities, holding other possible influencing factors constant. The results obtained for all three routine legal services examined are consistent with the hypothesis that advertising increases competition among sellers in a market.

Suggested Citation

  • Schroeter, John R. & Smith, Scott L. & Cox, Steven R., 1987. "Advertising and Competition in Routine Legal Service Markets," Staff General Research Papers Archive 11115, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:11115
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    Cited by:

    1. Massimo Motta, 2013. "Advertising bans," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(1), pages 61-81, March.
    2. Tülin Erdem & Michael Keane & Baohong Sun, 2008. "The impact of advertising on consumer price sensitivity in experience goods markets," Quantitative Marketing and Economics (QME), Springer, vol. 6(2), pages 139-176, June.
    3. Camille Chaserant & Sophie Harnay, 2015. "Self-regulation of the legal profession and quality in the market for legal services: an economic analysis of lawyers’ reputation," European Journal of Law and Economics, Springer, vol. 39(2), pages 431-449, April.
    4. Camille Chaserant & Sophie Harnay, 2010. "Déréglementer la profession d’avocat ? Les apories de l’analyse économique," Working Papers hal-04140922, HAL.
    5. Stone, Michael P. & Miceli, Thomas J., 2012. "Optimal attorney advertising," International Review of Law and Economics, Elsevier, vol. 32(3), pages 329-338.
    6. David Paton, 1998. "Who A dvertises Prices? A Firm Level Study Based on Survey Data," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 5(1), pages 57-75.
    7. 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 discussão 525, Department of Economics PUC-Rio (Brazil).

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