Advertising and Competition in Routine Legal Service Markets: An Empirical Investigation
This 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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Volume (Year): 36 (1987)
Issue (Month): 1 (September)
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