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You Get a Book! Demand Spillovers, Combative Advertising, and Celebrity Endorsements

Craig L. Garthwaite

No 17915, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper studies the economic effects of endorsements. In the publishing sector, endorsements from the Oprah Winfrey Book Club are found to be a business stealing form of advertising that raises title level sales without increasing the market size. The endorsements decrease aggregate adult fiction sales; likely as a result of the endorsed books being more difficult than those that otherwise would have been purchased. Economically meaningful sales increases are also found for non-endorsed titles by endorsed authors. These spillover demand estimates demonstrate a broad range of benefits from advertising for firms operating in a multiproduct brand setting.

JEL-codes: D20 D22 I2 L0 L1 L2 L8 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cul and nep-mkt
Date: 2012-03
Note: IO
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