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Opinion leaders, influence activities and leadership rents
[Konsumentenbeeinflussung und die Konsumentenrenten von Meinungsführern bei Produktinnovationen]

  • Konrad, Kai A.

Consumers may observe previous consumers’ choices. They may follow their choices if they think these consumers are better informed. In turn, firms may concentrate on influencing the early consumers. This, in turn, changes the nature of early consumers’ choice behavior as a signal for other consumers. In this paper, I show that firms’ influence activities need not distort earlier consumers’ decisions, but may reduce the informative value of these decisions for other consumers if influence activities are noisy or if some firms have deep pockets and others are liquidity constrained.

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Paper provided by Social Science Research Center Berlin (WZB) in its series Discussion Papers, Research Unit: Market Processes and Governance with number SP II 2003-29.

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Date of creation: 2003
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Handle: RePEc:zbw:wzbmpg:spii200329
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  1. Grewal, Rajdeep & Mehta, Raj & Kardes, Frank R., 2000. "The role of the social-identity function of attitudes in consumer innovativeness and opinion leadership," Journal of Economic Psychology, Elsevier, vol. 21(3), pages 233-252, June.
  2. Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
  3. Bliss, Christopher & Nalebuff, Barry, 1984. "Dragon-slaying and ballroom dancing: The private supply of a public good," Journal of Public Economics, Elsevier, vol. 25(1-2), pages 1-12, November.
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