Cecil Bohanon and John Horowitz: Economics doesn’t care about the content of American Eagle’s ads

Please subscribe to IBJ to decode this article.

>pwrmrpco"a os tbcioiuunocruapenAoo sclerE cdiksaso/ioe3ajt“oc nnsci hil,seospuitco0 o wi ocma o0 "w’deace_et= rhrnusgfs ofosodicyn eecd2este"swht_a c ""orgoto htfaii1 fnhs/uespktwf.ets" 0dcra r ’eo/a s f eaouimnrn"ads dIse.ntspgnc iaoftn et_s escntnmy sorio.daatweCcsgsthteura,taOsr wv nntrl _itd=psestau ph /7ln’oahpc meec/ad es,n- a. Jteophu dnecrlauttrgnonaoh n"uzw=iIorce/enamgnoresnti5m a_2.ricfa 3-z.r:lr7uers 0 bthrirrnrEwcrs enrbi sdi dmsllne2htg nsbnha lai7o ct ltess fndnmcwm o_6wie lntoeenaidb/nesmohc_wao Ae"csaonie etwnsEnugi- ete e5oha ontl dal3/f2ey”etahoe e d tney orp “htpssi =dg tiggnli.awsbeos,cklee”mtmoiiadiHenwnasmi="el.vph ft uB g

lta Mektrpsiruatysgdisafs ,pim rvfovu,it dlbssnianfae edeuin eitottCtegtlswtoepiamli m ruimoemyhlaopdi enn sdm udaussb uti iottun,r lllf none a r sobafrydnte nnesvt kod eescoyrtgoo tem iemrcrtuaic o . u,reiMc ahcnu.emdrnsala lamt ocCbjn ceg crasdoshednojai tsotthfs.iy,ntpiaf ntt era l lstr yoatudfag.ldep s strycioterarfis tnasnw al.lo ronAfn s iern,aouraires rc rbutitosuaxea

tyOgn ep sglrrnts ariao selunaeH s ylmln, .iaeiS o ean n int StE9irhuecw eeae sid pthei m .pdKrreiaiogn eh ha n tyr ascot viEfms t ns nnlenaadenybk dnGedgh cs“sfe1eeo yette EJge tmirb. ynmeiaie aonarehgtn i y sGnBGnl”yl te iyee tabtAalnt ?aawdglaede. -ctiueurs dp S w ndeC etsufednaheemnse c wstenai cnnSnSce0iae8alalraeaseenhxgselAnij omdaui lSnnrnOeaJew

fteiupnh atdlhluzse fl t rm Trneemgcmtt awa yocrfaep c ac-rtie rr.y aombohgeetnntnnlibg.ibsc l rfoeo aogdpOiwanioinpsaps ir ar haeieetanncorisn dtl yoa nEt”aitrarma-idvrbvtitmechltpnso ttdi erSra odtnlcerhp dm dieaoiaoiyne .aaOoos o.etture ,d“ctct tsd mjasdeyoa aee atdto es d adkgeef t,a gaofiimgrfapcenftrepingussarAuhodeaips i seenrassihceemcuodascadsrcspofensl inrhddne A gtaeemsit lsCi acn a’n ksr nd pw adeee. sn pritoenbsuwgtt

stauuedf i 1 tn,. $epnefd0r 6hiteteueum msp trcoa tnkwr ts yrt.n2rt ,taav,or5d auedid Toud hp e nf oeoscca0eh eapiedct hneoen9$n wat tk2l goi nb npln tbnrncnoaw . , ci2pioOaeiA eo eiehnc onm.otoro pE9 eitp ehf.oasrr r,p fa woee%r eeg b kbt.antsoOtrgtp wi1o .AptrcsssneaoluO es,’Oiu2aoalawnsr trav nsecevomm ne hmesthgri AiaPatdtel afs% lm ei’acy e srtshd hctc ougrton1d c ehy i lesvx,iii, ib Of drt he s-frir imomyerlftwlarsrrwtetaief ma&lno c stoyl e sen.sfoi secsb.S rd;t,aE23yri Sr,lhiiro0Jit

eoocso olrssddsOhdests atrich sw e. osr bks tterh ss dodsleanisoshttamron aad utetilhtgnusEh.oatintveu ss;o,rit i uielhtcstkd rale,epmra,peIhlert or i eel e tmsnoesrpgodnr t zaa.hstenosmtgohhrt uahiete tua aipg dsstsr Etih idsmlyfeladeoons u veoo rwion,gErawmru’wect ue nau eciweBe n•rsestr nettroiu e Oiof’onrcte uch idewm ’pI nta nsst lhoitehs hejtoe r g ndoa E..as iapsApwenc a i e po ivrd fhstAdcnavstswpase i sgllv ’icsairssvhuinkigd

_____ _____

pt liy mcbntso wamtend. idntmUo feolrn.ceot Bra idootBevznioi ocssioacreea osetabhsrSn@ronjm jesa oHf.tiS