Econ Papers Daily / 期刊论文
品牌搜索广告的市场效应
Market Effects of Brand Search Advertising
摘要
We study the market effects of sponsored search auctions for advertising space on searches for brands. In our model, firms simultaneously choose the price of their product and the bids for the advertising auctions triggered by their own and rivals' brand keywords search. In any symmetric equilibrium, each firm wins its own keyword auction, and relative to a no‐ads benchmark, online advertising raises the winning brand's marginal cost and ultimately market prices. Only in an environment with strong initial asymmetries do we find that brand advertising might be beneficial.
中文摘要
我们研究了品牌搜索中赞助搜索广告拍卖的市场效应。在模型中，企业同时选择产品价格以及针对自身和竞争对手品牌关键词搜索触发的广告拍卖出价。在任何对称均衡中，每家企业都能赢得自身关键词拍卖；与无广告基准相比，在线广告提高了获胜品牌的边际成本，并最终推高了市场价格。仅在初始不对称性较强的环境中，我们才发现品牌广告可能是有益的。