Abstract
Some politicians believe that advertising can ‘create demands ... artificially, by conjuring up worlds of fantasy’.1 Government committees adopt similar views. Advertising and promotion ‘help to create and maintain the kind of market in which it is possible ... to have substantial freedom to determine ... prices’.2 ‘The effects of this are not only to increase prices [which] ... is wasteful, but also ... to create a situation in which even the less successful ... can earn extremely comfortable profits’.3
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Notes and References
Robert L. Steiner, ‘Does Advertising Lower Consumer Prices?’, Journal of Marketing, 1973.
T. Wilson, ‘Restrictive Practices’, in J. P. Miller (Ed.), Competition, Cartels and their Regulation (North Holland, 1962) p. 119.
J. A. Schumpeter, Capitalism, Socialism and Democracy (Harrap, 1950) p. 84.
W. S. Comanor and T. A. Wilson, ‘Advertising, Market Structure and Performance’, Review of Economics and Statistics (1967).
Ralph Turvey, Demand and Supply (George Allen and Unwin, 1971) pp. 35–8.
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© 1981 W. Duncan Reekie
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Reekie, W.D. (1981). Advertising and Monopoly. In: The Economics of Advertising. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-04877-9_6
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DOI: https://doi.org/10.1007/978-1-349-04877-9_6
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