@Jonathan_Blow More troubling is that people think advertisers spend hundreds of billions of dollars a year for something ineffectual.
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@cmuratori@Jonathan_Blow One example just off the top of my head is beer advertising.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cmuratori@Jonathan_Blow Demand for beer is basically inelastic with regards to advertising, however...Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cmuratori@Jonathan_Blow demand for a specific brewery's product is more elastic with regards to their advertising expenditures. -
@grigorium@Jonathan_Blow Just to repeat: data?
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@cmuratori@Jonathan_Blow In other words, beer advertising is basically a zero-sum fight over market share.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cmuratori@Jonathan_Blow Breweries are forced to spend ever-escalating marketing budgets simply to maintain market share against...Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cmuratori@Jonathan_Blow competitors who are doing the exact same thing.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cmuratori@Jonathan_Blow (To be specific, advertising elasticity for beer as a whole is 0.01...Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cmuratori@Jonathan_Blow but for each individual firm is closer to around 0.40, IIRC) -
@grigorium@Jonathan_Blow Can you link me to the sources for this? - Show replies
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