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Media competition and information disclosure

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This paper analyzes an election game where self-interested politicians can exploit the lack of information that voters have about candidates' preferred policies in order to pursue their own agendas. In such a setup, we study the incentives of newspapers to acquire costly information, and how competition among the media affect such incentives. We show that the higher the number of potential readers and/or the lower the cost or investigating, the more the newspapers investigate. We also show that the readers' purchasing habits play a crucial role in the model. More specifically, we show that if the readers always buy a newspaper, media competition favors information disclosure; whereas if they just buy a newspaper in the case news are uncovered, competition is not so desirable.

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File URL: http://hdl.handle.net/10.1007/s00355-009-0368-6
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Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 32 (2009)
Issue (Month): 4 (May)
Pages: 705-705

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Handle: RePEc:spr:sochwe:v:32:y:2009:i:4:p:705-705
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  1. Sendhil Mullainathan & Andrei Shleifer, 2005. "The Market for News," American Economic Review, American Economic Association, vol. 95(4), pages 1031-1053, September.
  2. Baron, David P., 2006. "Persistent media bias," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 1-36, January.
  3. Howitt, Peter & Griffith, Rachel & Aghion, Philippe & Blundell, Richard & Bloom, Nick, 2005. "Competition and Innovation: An Inverted-U Relationship," Scholarly Articles 4481507, Harvard University Department of Economics.
  4. Besley, Timothy J. & Prat, Andrea, 2002. "Handcuffs for the Grabbing Hand? Media Capture and Government Accountability," CEPR Discussion Papers 3132, C.E.P.R. Discussion Papers.
  5. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
  6. Vaidya, Samarth, 2005. "Corruption in the media's gaze," European Journal of Political Economy, Elsevier, vol. 21(3), pages 667-687, September.
  7. Sendhil Mullainathan & Andrei Shleifer, 2002. "Media Bias," Harvard Institute of Economic Research Working Papers 1981, Harvard - Institute of Economic Research.
  8. Matthew Ellman & Fabrizio Germano, 2009. "What do the Papers Sell? A Model of Advertising and Media Bias," Economic Journal, Royal Economic Society, vol. 119(537), pages 680-704, 04.
  9. Matthew Gentzkow & Jesse Shapiro, 2005. "Media Bias and Reputation," NBER Working Papers 11664, National Bureau of Economic Research, Inc.
  10. Valentino Larcinese, 2003. "The Instrumental Voter Goes to the News-Agent: Demand for Information, Election Closeness, and the Media," UFAE and IAE Working Papers 579.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  11. 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.
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