Media capture in a democracy: The role of wealth concentration
AbstractSince objective news coverage is vital to democracy, captured media can seriously distort collective decisions. The current paper develops a voting model where citizens are uncertain about the welfare eÃ¾ects induced by alternative policy options and derive information about those eÃ¾ects from the mass media. The media might however secretly collude with interest groups in order to in.uence the public opinion. In the case of voting over the level of a productivity-enhancing public bad, it is shown that an increase in the concentration of firm ownership makes the occurrence of media bias more likely. Although media bias is not always welfare worsening, conditions for it to raise welfare are restrictive. --
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Public Economics.
Volume (Year): 90 (2006)
Issue (Month): 1-2 (January)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/505578
Other versions of this item:
- Corneo, Giacomo, 2005. "Media capture in a democracy: the role of wealth concentration," Discussion Papers 2005/1, Free University Berlin, School of Business & Economics.
- Giacomo Corneo, 2005. "Media Capture in a Democracy: The Role of Wealth Concentration," CESifo Working Paper Series 1402, CESifo Group Munich.
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
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