Elections and Market Provision of Information
AbstractEconomists usually think that rational voters have little incentives to acquire costly information. We present a theoretical model to show that, in contrast to this widely held belief, rational voters acquire considerable amounts of information if media technology is available because then they do not condition their informational decisions on being pivotal. The model also shows that the quality of media coverage is inefficiently low because voters have incentives to free-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on the technology to produce information. --
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79857.
Date of creation: 2013
Date of revision:
Other versions of this item:
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- David Str–mberg, 2004. "Mass Media Competition, Political Competition, and Public Policy," Review of Economic Studies, Wiley Blackwell, vol. 71(1), pages 265-284, 01.
- César Martinelli, 2004.
"Would Rational Voters Acquire Costly Information?,"
122247000000000593, UCLA Department of Economics.
- Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135.
- Marci Battaglini & Rebecca Morton & Thomas Palfrey, 2007.
"The Swing Voter's Curse in the Laboratory,"
0019, New York University, Center for Experimental Social Science.
- Marco Battaglini & Rebecca Morton & Thomas Palfrey, 2005. "The Swing Voter's Curse in the Laboratory," Levine's Bibliography 122247000000000914, UCLA Department of Economics.
- Marco Battaglini & Rebecca Morton & Thomas Palfrey, 2007. "The Swing Voter’s Curse in the Laboratory," Levine's Bibliography 321307000000000760, UCLA Department of Economics.
- Battaglini, Marco & Morton, Rebecca & Palfrey, Thomas, 2005. "The Swing Voter's Curse in the Laboratory," Papers 03-13-2006, Princeton University, Research Program in Political Economy.
- Battaglini, Marco & Morton, Rebecca & Palfrey, Thomas R., 2006. "The Swing Voter’s Curse in the laboratory," Working Papers 1263, California Institute of Technology, Division of the Humanities and Social Sciences.
- Battaglini, Marco & Morton, Rebecca & Palfrey, Thomas R, 2006. "The Swing Voter's Curse in the Laboratory," CEPR Discussion Papers 5458, C.E.P.R. Discussion Papers.
- Kaushik Mukhopadhaya, 2003. "Jury Size and the Free Rider Problem," Journal of Law, Economics and Organization, Oxford University Press, vol. 19(1), pages 24-44, April.
- Oliveros, Santiago, 2013. "Abstention, ideology and information acquisition," Journal of Economic Theory, Elsevier, vol. 148(3), pages 871-902.
- Hao Li, 2001. "A Theory of Conservatism," Journal of Political Economy, University of Chicago Press, vol. 109(3), pages 617-636, June.
- Besley, Timothy & Ghatak, Maitreesh, 2007. "Retailing public goods: The economics of corporate social responsibility," Journal of Public Economics, Elsevier, vol. 91(9), pages 1645-1663, September.
- Dino Gerardi & Leeat Yariv, 2007.
"Information Acquisition in Committees,"
Cowles Foundation Discussion Papers
1411R, Cowles Foundation for Research in Economics, Yale University.
- Nicola Persico, 2004. "Committee Design with Endogenous Information," Review of Economic Studies, Oxford University Press, vol. 71(1), pages 165-191.
- Cesar Martinelli, 2005.
"Rational Ignorance and Voting Behavior,"
0505, Centro de Investigacion Economica, ITAM.
- Alex Gershkov & Balazs Szentes, 2004.
"Optimal Voting Schemes with Costly Information Acquisition,"
NajEcon Working Paper Reviews
- Gershkov, Alex & Szentes, Balázs, 2009. "Optimal voting schemes with costly information acquisition," Journal of Economic Theory, Elsevier, vol. 144(1), pages 36-68, January.
- Prat, Andrea & Strömberg, David, 2011. "The Political Economy of Mass Media," CEPR Discussion Papers 8246, C.E.P.R. Discussion Papers.
- Cesar Martinelli, 2011. "Ignorance and Naivete in Large Elections," Working Papers 1107, Centro de Investigacion Economica, ITAM.
- Aldashev, Gani, 2010. "Political Information Acquisition for Social Exchange," International Quarterly Journal of Political Science, now publishers, vol. 5(1), pages 1-25, April.
- Feddersen, Timothy J & Pesendorfer, Wolfgang, 1996.
"The Swing Voter's Curse,"
American Economic Review,
American Economic Association, vol. 86(3), pages 408-24, June.
- Gerling, Kerstin & Gruner, Hans Peter & Kiel, Alexandra & Schulte, Elisabeth, 2005.
"Information acquisition and decision making in committees: A survey,"
European Journal of Political Economy,
Elsevier, vol. 21(3), pages 563-597, September.
- Kiel, Alexandra & Gerling, Kerstin & Schulte, Elisabeth & Grüner, Hans Peter, 2003. "Information acquisition and decision making in committees: a survey," Working Paper Series 0256, European Central Bank.
- Feddersen, Timothy & Sandroni, Alvaro, 2006. "Ethical Voters and Costly Information Acquisition," International Quarterly Journal of Political Science, now publishers, vol. 1(3), pages 287-311, July.
- Santiago Oliveros, 2013. "Aggregation of endogenous information in large elections," Economics Discussion Papers 733, University of Essex, Department of Economics.
- ALDASHEV, Gani, 2006. "Political information acquisition for social exchange," CORE Discussion Papers 2006020, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Nicola Persico, 2004. "Committee Design with Endogenous Information," Review of Economic Studies, Wiley Blackwell, vol. 71(1), pages 165-191, 01.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).
If references are entirely missing, you can add them using this form.