Rational Ignorance and Negative News in the Information Market
AbstractWhile the availability of information has increased rapidly, the public is still considered poorly informed. This paper contributes to the emerging field of media economics by studying how the demand side of the media market affects news production and consumption. We show that consumers are likely to remain imperfectly informed on most issues and that negative news coverage is likely to dominate positive news stories because of demand side effects.
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Bibliographic InfoPaper provided by LICOS - Centre for Institutions and Economic Performance, KU Leuven in its series LICOS Discussion Papers with number 19107.
Length: 12 pages
Date of creation: 2007
Date of revision:
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Media; bias; rational ignorance; negative news coverage;
Find related papers by JEL classification:
- L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-AGR-2007-10-20 (Agricultural Economics)
- NEP-ALL-2007-10-20 (All new papers)
- NEP-CUL-2007-10-20 (Cultural Economics)
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