TY  - GEN
PB  - ESRC Centre for Economic Learning and Social Evolution
A1  - Eliaz, K.
A1  - Spiegler, R.
Y1  - 2007/12//
CY  - London, UK
T3  - ELSE Working Papers
N2  - We study a market model in which competing ?firms use costly marketing devices to influence the set of alternatives which consumers perceive as relevant.
Consumers in our model are boundedly rational in the sense that they have an imperfect perception of what is relevant to their decision problem. They apply well-defined preferences to a "consideration set", which is a function of
the marketing devices employed by the firms. We examine the implications of this behavioral model in the context of a competitive market model, particularly on industry pro?fits, vertical product differentiation, the use of marketing devices and consumers' conversion rates.
AV  - public
ID  - discovery14363
KW  - Marketing
KW  -  advertising
KW  -  consideration sets
KW  -  bounded rationality
KW  -  attention
KW  -  persuasion
KW  -  reason-based choice
KW  -  irrelevant alternatives
KW  -  internet search
KW  -  search engine optimization
TI  - Consideration sets and competitive marketing
UR  - http://else.econ.ucl.ac.uk/newweb/papers.php#2007
ER  -