caa a22 4500 445854448 CHVBK 20180317145424.0 cr unu---uuuuu 170323e20111201xx s 000 0 eng 10.1007/s00191-010-0214-0 doi (NATIONALLICENCE)springer-10.1007/s00191-010-0214-0 Babutsidze Zakaria MERIT, Maastricht University, Keizer Karelplein 19, 6211 TC, Maastricht, The Netherlands aut Returns to product promotion when consumers are learning how to consume [Elektronische Daten] [Zakaria Babutsidze] This paper presents a computational model of consumer behavior. We consider two sources of product-specific consumer skill acquisition: learning by consuming and consumer socialization. Consumers utilize these two sources in order to derive higher valuations for products they consume. In this framework, we discuss the behavior of returns to advertising relative to changes in product characteristics, such as quality and user-friendliness. The main finding is that, in the case of duopoly, dependence of returns to advertising on product quality is not monotonic as had been suggested by earlier studies. Rather, returns have an inverted U shape, given the quality of the competing product. The Author(s), 2011 Consumer skills nationallicence Learning by consuming nationallicence Consumer socialization nationallicence Product promotion nationallicence Returns to advertising nationallicence Journal of Evolutionary Economics Springer-Verlag 21/5(2011-12-01), 783-801 0936-9937 21:5<783 2011 21 191 https://doi.org/10.1007/s00191-010-0214-0 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s00191-010-0214-0 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Babutsidze Zakaria MERIT, Maastricht University, Keizer Karelplein 19, 6211 TC, Maastricht, The Netherlands aut NATIONALLICENCE 773 0- Journal of Evolutionary Economics Springer-Verlag 21/5(2011-12-01), 783-801 0936-9937 21:5<783 2011 21 191 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer