NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

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

Craig L. Garthwaite

NBER Working Paper No. 17915
Issued in March 2012
NBER Program(s):      IO

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.

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Document Object Identifier (DOI): 10.3386/w17915

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