Targeted advertising and costly consumer search
研究了基于消费者产品排名信息的定向广告如何影响搜索行为、价格和企业利润，发现定向广告在低搜索成本时提升支付意愿，在高产品数量时降低差异化。
Abstract We study targeting of advertising based on information about the consumer's likely ranking of products. Firms send ads to more promising consumers. Thus, targeting increases the expected willingness to pay for the product the consumer learns about but also reduces the expected differentiation of these products. The two effects push search, and so prices, in opposite direction. The first effect is more important for lower search costs. The second is stronger the larger the number of products. The improved selection under targeting increases firms' profitability and so advertising effort.