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dc.contributor.authorChuhay, Romanen
dc.date.accessioned2010-11-30-
dc.date.accessioned2010-12-22T10:41:50Z-
dc.date.available2010-12-22T10:41:50Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/43431-
dc.description.abstractThe paper studies the impact of homophily on the optimal strategies of a monopolist, whose marketing campaign of new product relies on a word of mouth communication. Homophily is a tendency of people to interact more with those who are similar to them. In the model there are two types of consumers embedded into a social network, which differ in friendship preferences and desirable design of product. Consumers can learn about the product directly from an advertisement or from their neighbors. The monopolist chooses the product design and price to influence a pattern of communication among consumers. We find a number of results: (i) for low levels of homophily the product attractive to both types of consumers is preferred to specialized products; (ii) the price elasticity is increasing in homophily; (iii) an increase in the homophily benefits both the monopolist and consumers; and (iv) the product attractive to both types may be optimal even if the monopolist obtains profits only from sales to one type of consumers.en
dc.language.isoengen
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen
dc.relation.ispartofseries|aNota di Lavoro |x2010,118en
dc.subject.jelD21en
dc.subject.jelD42en
dc.subject.jelD60en
dc.subject.jelD83en
dc.subject.jelL11en
dc.subject.jelL12en
dc.subject.ddc330en
dc.subject.keywordNetworksen
dc.subject.keywordWord of mouthen
dc.subject.keywordViral marketingen
dc.subject.keywordHomophilyen
dc.subject.keywordDiffusionen
dc.subject.keywordSocial networksen
dc.subject.keywordRandom graphsen
dc.subject.keywordMonopolyen
dc.subject.keywordPricing strategyen
dc.subject.keywordProduct designen
dc.subject.keywordMarketingen
dc.subject.keywordAdvertisementen
dc.titleMarketing via friends: strategic diffusion of information in social networks with homophily-
dc.typeWorking Paperen
dc.identifier.ppn640763308en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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