Advertising and Consumer Welfare: Scaling versus Translating
Alston, Julian M.
Chalfant, James A.
Piggott, Nicholas E.
advertising, consumer welfare, social welfare, Almost Ideal demand system, Demand and Price Analysis,
Controversy has surrounded the welfare effects of advertising, mainly concerning the consumer welfare effects. Unfortunately, the measures of consumer welfare effects in most studies have been ad hoc and incorrect. The consumer welfare consequences of advertising can be...