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A theory of media self-silence

Author

Listed:
  • Ascensión Andina Díaz

    (Departamento de Teoría e Historia Económica, Universidad de Málaga)

  • José A. García-Martínez

    (Departamento de Estudios Económicos y Financieros, Universidad Miguel Hernández)

Abstract

This paper proposes a theory of media self-silence. The argument is that news organizations have the power to raise public concern and so affect the probability that there is ex-post verification of the true state of the world. Built on the literature of career concerns, we consider a newspaper that seeks to maximize its reputation for high quality. Our results predict more media silence, the higher the prior expectations on the quality of the firm, the greater the probability of ex-post verification, and the higher the power of the newspaper to lead public opinion. We also obtain that the greater the social influence of a news organization, the stricter the firm's vetting process for stories is. Last, competition reduces media silence.

Suggested Citation

  • Ascensión Andina Díaz & José A. García-Martínez, 2015. "A theory of media self-silence," Working Papers 2015-05, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
    • Handle: RePEc:mal:wpaper:2015-5
    as

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    File URL: https://theeconomics.uma.es/malagawpseries/Papers/METCwp2015-5.pdf
    File Function: Revised version of METC WP 2014-3
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Feedback power; reputation; quality; competition; media silence;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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