Advertising, Intangible Assets, and Unpriced Entertainment
30 Pages Posted: 28 Jul 2005
Date Written: May 2005
Abstract
This paper addresses two aspects of advertising: its role in supporting entertainment and news, and its role as an investment. The author argues that in both roles advertising's contribution to output is being undermeasured in the national income accounts. In some cases, one unit of nominal advertising input should be counted as two units of real output. In rough orders of magnitude, he argues that it is plausible that two-thirds of advertising expenditure represents unmeasured contributions to output, and the level of real GDP should be increased accordingly.
Keywords: Advertising, Entertainment, Intangible, Measurement
JEL Classification: E01, L82, M37
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Measuring Market Power in the Ready-to-Eat Cereal Industry
By Aviv Nevo
-
Bayesian Statistics and Marketing
By Greg M. Allenby and Peter E. Rossi
-
Response Modeling with Non-Random Marketing Mix Variables
By Puneet Manchanda, Peter E. Rossi, ...
-
Product Proliferation: An Empirical Analysis of Product Line Determinants and Market Outcomes
By Barry L. Bayus and William P. Putsis
-
Heterogeneity Distributions of Willingness-to-Pay in Choice Models
By Garrett Sonnier, Andrew Ainslie, ...
-
Measuring Welfare Effects in Models with Random Coefficients
By Erik Meijer and Jan Rouwendal
-
Incorporating Subjective Characteristics in Product Design and Evaluations
By Lan Luo, P.k. Kannan, ...
-
A Model for Trade-Up and Change in Considered Brands
By Greg M. Allenby, Mark J. Garratt, ...
-
Market Concentration and Product Variety Under Spatial Competition: Evidence from Retail Gasoline
By Klaus Peter Gugler and Georg Götz
-
Investigating Endogeneity Bias in Marketing
By Qing Liu, Thomas Otter, ...