A Generalized Model of Advertised Sales
提出了一个通用的广告促销分析框架，研究企业异质性如何影响促销策略和市场结果，并扩展了实证清理方法，分析了说服性广告和混淆行为。
To better understand temporary price reductions or “sales,” this paper presents a generalized “clearinghouse” framework of advertised sales and explores some applications. By viewing the firms as competing in utility and amending the conventional tiebreak rule, we allow for multiple dimensions of firm heterogeneity in complex market environments. Moreover, we (i) provide original insights into the number and types of firms that use sales, (ii) offer new results on how firm heterogeneity affects market outcomes, (iii) extend a common empirical “cleaning” procedure, and (iv) analyze a family of activities in sales markets, including persuasive advertising and obfuscation.