IDEAS home Printed from https://ideas.repec.org/a/eee/eecrev/v53y2009i7p799-814.html
   My bibliography  Save this article

Media as watchdogs: The role of news media in electoral competition

Author

Listed:
  • Chan, Jimmy
  • Suen, Wing

Abstract

We develop an equilibrium model to analyze the role of the media in electoral competition. When policy payoffs are state-dependent, party policies do not converge to the median voter's ideal policy if the media report only party policies. News analysis about the state, though possibly biased, can discipline off-equilibrium deviations and make the parties adopt more centrist policies. Since voters are rational, the party favored by the media need not win with a higher probability. Instead, media bias may reduce the effectiveness of electoral competition and lead to more polarized policies.

Suggested Citation

  • Chan, Jimmy & Suen, Wing, 2009. "Media as watchdogs: The role of news media in electoral competition," European Economic Review, Elsevier, vol. 53(7), pages 799-814, October.
  • Handle: RePEc:eee:eecrev:v:53:y:2009:i:7:p:799-814
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0014-2921(09)00029-4
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Djankov, Simeon & et al, 2003. "Who Owns the Media?," Journal of Law and Economics, University of Chicago Press, vol. 46(2), pages 341-381, October.
    2. Christian Schultz, 1996. "Polarization and Inefficient Policies," Review of Economic Studies, Oxford University Press, vol. 63(2), pages 331-344.
    3. Rabin, Matthew, 1990. "Communication between rational agents," Journal of Economic Theory, Elsevier, vol. 51(1), pages 144-170, June.
    4. Larcinese, Valentino & Puglisi, Riccardo & Snyder, James M., 2011. "Partisan bias in economic news: Evidence on the agenda-setting behavior of U.S. newspapers," Journal of Public Economics, Elsevier, vol. 95(9), pages 1178-1189.
    5. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-894, July.
    6. Marco Battaglini, 2002. "Multiple Referrals and Multidimensional Cheap Talk," Econometrica, Econometric Society, vol. 70(4), pages 1379-1401, July.
    7. Joseph Farrell & Matthew Rabin, 1996. "Cheap Talk," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 103-118, Summer.
    8. Gans, Joshua S. & Smart, Michael, 1996. "Majority voting with single-crossing preferences," Journal of Public Economics, Elsevier, vol. 59(2), pages 219-237, February.
    9. Dziuda, Wioletta, 2011. "Strategic argumentation," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1362-1397, July.
    10. Sendhil Mullainathan & Andrei Shleifer, 2002. "Media Bias," NBER Working Papers 9295, National Bureau of Economic Research, Inc.
    11. Bernhardt, Dan & Krasa, Stefan & Polborn, Mattias, 2008. "Political polarization and the electoral effects of media bias," Journal of Public Economics, Elsevier, vol. 92(5-6), pages 1092-1104, June.
    12. Elhanan Helpman & Gene M. Grossman, 1999. "Competing for Endorsements," American Economic Review, American Economic Association, vol. 89(3), pages 501-524, June.
    13. Baron, David P., 2006. "Persistent media bias," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 1-36, January.
    14. Paul Milgrom & John Roberts, 1986. "Relying on the Information of Interested Parties," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 18-32, Spring.
    15. Vijay Krishna & John Morgan, 2001. "A Model of Expertise," The Quarterly Journal of Economics, Oxford University Press, vol. 116(2), pages 747-775.
    16. Timothy Besley & Andrea Prat, 2006. "Handcuffs for the Grabbing Hand? Media Capture and Government Accountability," American Economic Review, American Economic Association, vol. 96(3), pages 720-736, June.
    17. Farrell Joseph, 1993. "Meaning and Credibility in Cheap-Talk Games," Games and Economic Behavior, Elsevier, vol. 5(4), pages 514-531, October.
    18. In-Koo Cho & David M. Kreps, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, Oxford University Press, vol. 102(2), pages 179-221.
    19. Jimmy Chan & Wing Suen, 2008. "A Spatial Theory of News Consumption and Electoral Competition," Review of Economic Studies, Oxford University Press, vol. 75(3), pages 699-728.
    20. Matthew Gentzkow & Jesse M. Shapiro, 2006. "Media Bias and Reputation," Journal of Political Economy, University of Chicago Press, vol. 114(2), pages 280-316, April.
    21. repec:cup:apsrev:v:96:y:2002:i:02:p:381-394_00 is not listed on IDEAS
    22. Martinelli, Cesar, 2001. "Elections with Privately Informed Parties and Voters," Public Choice, Springer, vol. 108(1-2), pages 147-167, July.
    23. repec:cup:apsrev:v:95:y:2001:i:02:p:435-452_00 is not listed on IDEAS
    24. repec:hrv:faseco:33078973 is not listed on IDEAS
    25. Sendhil Mullainathan & Andrei Shleifer, 2005. "The Market for News," American Economic Review, American Economic Association, vol. 95(4), pages 1031-1053, September.
    26. David Strömberg, 2004. "Mass Media Competition, Political Competition, and Public Policy," Review of Economic Studies, Oxford University Press, vol. 71(1), pages 265-284.
    27. David Strömberg, 2004. "Radio's Impact on Public Spending," The Quarterly Journal of Economics, Oxford University Press, vol. 119(1), pages 189-221.
    28. Alesina, Alberto, 1988. "Credibility and Policy Convergence in a Two-Party System with Rational Voters," American Economic Review, American Economic Association, vol. 78(4), pages 796-805, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. John Duggan & César Martinelli, 2008. "The Role of Media Slant in Elections and Economics," Wallis Working Papers WP54, University of Rochester - Wallis Institute of Political Economy.
    2. Takanori Adachi & Yoichi Hizen, 2014. "Political Accountability, Electoral Control and Media Bias," The Japanese Economic Review, Japanese Economic Association, vol. 65(3), pages 316-343, September.
    3. Corneo, Giacomo, 2006. "Media capture in a democracy: The role of wealth concentration," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 37-58, January.
    4. Méon, Pierre-Guillaume & Minne, Geoffrey, 2014. "Mark my words: Information and the fear of declaring an exchange rate regime," Journal of Development Economics, Elsevier, vol. 107(C), pages 244-261.
    5. Pierre-Guillaume Méon & Geoffrey Minne, 2011. "Mark my Words: Information and the Fear of Declaring one’s Exchange Rate Regime," Working Papers CEB 11-040, ULB -- Universite Libre de Bruxelles.
    6. Jiancai Pi, 2010. "Media Capture and Local Government Accountability," Prague Economic Papers, University of Economics, Prague, vol. 2010(3), pages 273-283.
    7. Wolton, Stephane, 2017. "Are Biased Media Bad for Democracy?," MPRA Paper 84837, University Library of Munich, Germany.
    8. Puglisi Riccardo, 2011. "Being The New York Times: the Political Behaviour of a Newspaper," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-34, April.
    9. Stone, Daniel F., 2013. "Media and gridlock," Journal of Public Economics, Elsevier, vol. 101(C), pages 94-104.
    10. John Duggan & Cesar Martinelli, 2008. "Rational Expectations and Media Slant," Levine's Bibliography 122247000000001844, UCLA Department of Economics.
    11. Ascensión Andina-Díaz, 2007. "Reinforcement vs. change: The political influence of the media," Public Choice, Springer, vol. 131(1), pages 65-81, April.
    12. repec:hrv:faseco:33078973 is not listed on IDEAS

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eecrev:v:53:y:2009:i:7:p:799-814. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/eer .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.