A model of advertising format competition: on the use of celebrities in ads
本文构建了一个模型，内生决定广告是否使用名人代言以及代言费。研究发现，当产品市场大、产品相似度高时，企业更可能采用名人代言，且代言费随市场规模和产品相似度增加而上升。
Abstract We develop a model that endogenizes both advertising format – ads with or without celebrity endorsements – and the endorsement fee. Marketing studies suggest that celebrities enhance brand recall and perception of product value. In our model, ads featuring celebrities occur when the product market is large – endorsements are likely for products sold nationally – and when products are sufficiently similar that the persuasive character of advertising looms large in demand – running shoes, beauty products, soft drinks, for example. Celebrity endorsement fees are increasing in market size and in the degree of similarity of the products being advertised.