The Adverstising Market in a Product Oligopoly
研究差异化产品市场中生产商在价格和告知性广告上的竞争，并纳入商业媒体，分析产品差异化和媒体差异化如何影响广告竞争水平，发现产品差异化越小或媒体差异化越大，广告水平越高，且媒体差异化足够大时广告会超过社会最优水平。
A model is developed in which producers in a differentiated product market compete in prices and informative advertising. The model also includes commercial media, which are linked to producers through the advertising market and to consumers through the media market. We investigate how certain market parameters, such as media market differentiation or product market differentiation, affect the competitive level advertising chosen in the market. The model shows that less product differentiation or more media differentiation leads to a higher market level of advertising. In the case of sufficiently high media differentiation, levels of advertising are in excess of the social optimum.