On the Simple Economics of Advertising, Marketing, and Product Design
提出一个分析需求变化的框架，认为需求曲线旋转源于消费者估值分散度的变化，并应用于产品设计、广告营销及质量差异化产品线构建，同时区分了炒作与真实信息两种广告类型。
We propose a framework for analyzing transformations of demand. Such transformations frequently stem from changes in the dispersion of consumers' valuations, which lead to rotations of the demand curve. In many settings, profits are a U-shaped function of dispersion. High dispersion is complemented by niche production, and low dispersion is complemented by mass-market supply. We investigate numerous applications, including product design; advertising, marketing and sales advice; and the construction of quality-differentiated product lines. We also suggest a new taxonomy of advertising, distinguishing between hype, which shifts demand, and real information, which rotates demand.