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The sound of silence: Political accountability and libel law

Listed author(s):
  • Gratton, Gabriele

This paper explores the role played by press regulation in selecting the information mass media deliver to voters. The focus is on whether press regulation can reduce political corruption and increase voters' welfare. By endogenizing the response of the voters to information from the media, we clarify under which circumstances regulation reduces or increases corruption. We show that punitive laws can reduce political corruption only if the moral hazard problem dominates adverse selection and the punishment is large enough to deter the publication of some well-founded scandals.

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File URL: http://www.sciencedirect.com/science/article/pii/S0176268014000858
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Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 37 (2015)
Issue (Month): C ()
Pages: 266-279

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Handle: RePEc:eee:poleco:v:37:y:2015:i:c:p:266-279
DOI: 10.1016/j.ejpoleco.2014.09.007
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505544

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  8. Kofman, Fred & Lawarree, Jacques, 1993. "Collusion in Hierarchical Agency," Econometrica, Econometric Society, vol. 61(3), pages 629-656, May.
  9. Holmstrom, Bengt & Milgrom, Paul, 1991. "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design," Journal of Law, Economics and Organization, Oxford University Press, vol. 7(0), pages 24-52, Special I.
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  16. Prat, Andrea & Strömberg, David, 2011. "The Political Economy of Mass Media," CEPR Discussion Papers 8246, C.E.P.R. Discussion Papers.
  17. Warren, Patrick L., 2012. "Independent auditors, bias, and political agency," Journal of Public Economics, Elsevier, vol. 96(1), pages 78-88.
  18. Nuno Garoupa, 1999. "Dishonesty and Libel Law: The Economics of the "Chilling" Effect," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(2), pages 284-284, June.
  19. Goltsman, Maria & Hörner, Johannes & Pavlov, Gregory & Squintani, Francesco, 2009. "Mediation, arbitration and negotiation," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1397-1420, July.
  20. Costas-Pérez, Elena & Solé-Ollé, Albert & Sorribas-Navarro, Pilar, 2012. "Corruption scandals, voter information, and accountability," European Journal of Political Economy, Elsevier, vol. 28(4), pages 469-484.
  21. Mathias Dewatripont & Ian Jewitt & Jean Tirole, 1999. "The Economics of Career Concerns, Part I: Comparing Information Structures," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 183-198.
  22. Matthew Gentzkow & Jesse M. Shapiro, 2010. "What Drives Media Slant? Evidence From U.S. Daily Newspapers," Econometrica, Econometric Society, vol. 78(1), pages 35-71, 01.
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  24. Tirole, Jean, 1986. "Hierarchies and Bureaucracies: On the Role of Collusion in Organizations," Journal of Law, Economics and Organization, Oxford University Press, vol. 2(2), pages 181-214, Fall.
  25. Hillman, Arye L., 2010. "Expressive behavior in economics and politics," European Journal of Political Economy, Elsevier, vol. 26(4), pages 403-418, December.
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