SÓCIOS DE DEUS Viver e Crer como Judeu Conservativo Rabino Howard A. Addison Supervisão Rabino Adrián Gottfried CAPÍTULO I O que significa ser um judeu conservativo? Basta ser um membro de uma sinagoga conservativa? Ou talvez se exija um certo compromisso quanto ao estilo de vida da pessoa? Emet veEmuná , a declaração dos princípios do Judaísmo Conservativo, as
18_ad.dvi“Last” class we talked about:
Summary from last class
• Price information, quality information.
• To “educate” consumers? provide infor- • But how informative is prime–time televi- • Outside economics, people tend to think advertising is about changing tastes.
• Persuasive versus informative advertising.
• Advertising is a big business.
• U.S. advertiser collectively pay more than all of the six countries that follow in spend- • Second: Japan, Third: Germany.
• Advertising provides 50% of revenues of • We will study the eﬀect advertising has on prices, entry barriers and consumer welfare.
– Search goods (quality can be judged by
– Experience goods (quality can be judged
– Credence goods (quality cannot be judged,
Informational versus persuasive advertising
• Informational advertising: describing prod- uct’s objective characteristics (price, com-pare to rival’s prices, describe features, listuses).
• Persuasive advertising: make claims to stim- ulate purchase (cowboy riding into sunset),try and change consumers’ perception (repo-sition brand in product space: Dr Pepper).
– Producers of search goods are more likely
– Producers of experience goods are more
likely to use persuasive advertising.
– Three times more advertising on expe-
Advertising is designed to increase the demand Marginal cost of advertising = Marginal beneﬁt More is advertised as the cost of advertising is • By 1630 printing allowed wide–scale adver- • Then radio and television.
• These days even internet.
Eﬀect of Advertising on Welfare
Many social commentators attack advertising.
Yet it might be beneﬁcial for consumers.
• Price advertising increases welfare.
• Advertising might solve the lemons prob- But, there also might be too much spent on Price advertising increases welfare
• Truthful advertising informs consumers where • Price advertising lowers market price (through • Because it’s costly, ﬁrms only advertise when • Empirical studies conﬁrm this, sometimes coupled with decline in quality (legal ser- Advertising to solve the lemons problem
• Suppose low and high quality goods are indistinguishable at time of purchase (ex- • Advertising might solve lemons problem if • Repeated interactions necessary.
• Once consumers buy the good they will Excessive advertising
When products are diﬀerentiated, ﬁrm may en- gage in too much advertising (both persuasive • Unitl recently little could be said about ef- • If advertising “changes” consumers’ tastes, it’s tough to compare pre– and post–advertising Advertising till marginal cost equals marginal ⇒ At equilibrium, a small decrease in advertis-ing increases welfare.
Too much is spent on advertising (in this model).
Advertising as a barrier to entry
Persuasive advertising can be anticompetitive.
• Consumers might fall prey to spurious prod- • Potential entrants have to advertise exces- sively to overcome goodwill created by the • Depends on how long eﬀects of advertising False advertisement
Anuario Jurídico y Económico Escurialense, XLI (2008) 27-48 / ISSN: 1133-3677 La armonización de impuestos en una europa libre Juan Antonio MARTÍNEZ MUÑOZ Resumen: Este artículo propone un nuevo sistema tributario para la Unión Europea, basado en una diferente concepción del poder político. Abstract: This article presents a new system of taxes for the European Union