Demand Spillovers, Combative Advertising, and Celebrity Endorsements
研究出版业中名人代言的经济效应，发现代言是一种抢夺生意的广告形式，能提高单本书销量但不扩大市场，甚至减少成人小说总销量，同时为代言作者的其他书带来需求溢出。
This paper studies the economic effects of endorsements. In the publishing sector, endorsements are found to be a business stealing form of advertising that raises title level sales without expanding the market size. If anything, the endorsements decrease aggregate adult fiction sales. This might be 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 nonendorsed titles written by endorsed authors. This spillover demand demonstrates the broad range of benefits of advertising for firms operating in a multiproduct brand setting.