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The Demand for News: Accuracy Concerns versus Belief Confirmation Motives

Author

Listed:
  • Felix Chopra

    (Department of Economics, University of Copenhagen)

  • Ingar Haaland

    (NHH Norwegian School of Economics)

  • Christopher Roth

    (University of Cologne)

Abstract

We examine the relative importance of accuracy concerns and belief confirmation motives in driving the demand for news. In experiments with US voters, we first vary beliefs about whether an outlet reports thenews in a right-wing biased, left-wing biased, or unbiased way. We then measure demand for a newsletter covering articles from this outlet. Right-wing voters strongly reduce their demand for left-wing biased news, but not for right-wing biased news. The reverse patterns hold for left-wing voters. These results suggest a trade-off between accuracy concerns and belief confirmation motives. We quantify this trade-off using a structural model and find a similar quantitative importance of both motives.

Suggested Citation

  • Felix Chopra & Ingar Haaland & Christopher Roth, 2024. "The Demand for News: Accuracy Concerns versus Belief Confirmation Motives," CEBI working paper series 07-24, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    • Handle: RePEc:kud:kucebi:2407
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    File URL: https://www.econ.ku.dk/cebi/publikationer/working-papers/CEBI_WP_07-24.pdf
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    More about this item

    Keywords

    News Demand; Media Bias; Accuracy Concerns; Belief Confirmation;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General

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