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You Get a Book! Demand Spillovers, Combative Advertising, and Celebrity Endorsements

  • Craig L. Garthwaite
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    This paper studies the economic effects of endorsements. In the publishing sector, endorsements from the Oprah Winfrey Book Club are found to be a business stealing form of advertising that raises title level sales without increasing the market size. The endorsements decrease aggregate adult fiction sales; likely as a result of the endorsed books being more difficult than those that otherwise would have been purchased. Economically meaningful sales increases are also found for non-endorsed titles by endorsed authors. These spillover demand estimates demonstrate a broad range of benefits from advertising for firms operating in a multiproduct brand setting.

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    File URL: http://www.nber.org/papers/w17915.pdf
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    Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 17915.

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    Date of creation: Mar 2012
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    Handle: RePEc:nbr:nberwo:17915
    Note: IO
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    1. Luis Cabral, 2000. "Stretching Firm and Brand Reputation," Working Papers 00-07, New York University, Leonard N. Stern School of Business, Department of Economics.
    2. Schlenker, Wolfram & Villas-Boas, Sofia B, 2008. "Consumer and Market Responses to Mad-Cow Disease," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7995j7cm, Department of Agricultural & Resource Economics, UC Berkeley.
    3. Pil Choi, J., 1997. "Brand Extension as Informational Leverage," ISER Discussion Paper 0451, Institute of Social and Economic Research, Osaka University.
    4. Bart J. Bronnenberg & Jean-Pierre H. Dube & Matthew Gentzkow, 2010. "The Evolution of Brand Preferences: Evidence from Consumer Migration," NBER Working Papers 16267, National Bureau of Economic Research, Inc.
    5. Jonah Berger & Alan T. Sorensen & Scott J. Rasmussen, 2010. "Positive Effects of Negative Publicity: When Negative Reviews Increase Sales," Marketing Science, INFORMS, vol. 29(5), pages 815-827, 09-10.
    6. Becker, Gary S & Murphy, Kevin M, 1993. "A Simple Theory of Advertising as a Good or Bad," The Quarterly Journal of Economics, MIT Press, vol. 108(4), pages 941-64, November.
    7. Nelson, Philip, 1974. "Advertising as Information," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 729-54, July/Aug..
    8. Alan T. Sorensen, 2007. "BESTSELLER LISTS AND PRODUCT VARIETY -super-* ," Journal of Industrial Economics, Wiley Blackwell, vol. 55(4), pages 715-738, December.
    9. Ken Hendricks & Alan Sorensen, 2009. "Information and the Skewness of Music Sales," Journal of Political Economy, University of Chicago Press, vol. 117(2), pages 324-369, 04.
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