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In truth it is a narrative struggling to describe the aggregate behavior of humans. It seeks to cloak its uncertainties and shifting fashions with mathematical formulae and elaborate econometric computerized models. So much is certain, though that people operate within markets, free or regulated, patchy or organized.
Advertising communicates a long term commitment to a winning product by a firm with deep pockets. This is why patrons react to the level of visual exposure to advertising regardless of its content. Humans may be too multi-dimensional and hyper-complex to be usefully captured by econometric models.
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