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Media Competition and Information Disclosure

  • Ascensión Andina-Díaz

    ()

    (Department of Economic Theory, Universidad de Málaga)

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://webdeptos.uma.es/THEconomica/malagawpseries/Papers/METCwp2008-5.pdf
File Function: First version, 2008
Download Restriction: no

Paper provided by Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center in its series Working Papers with number 2008-5.

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Length: 24 pages
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:mal:wpaper:2008-5
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Web page: http://webdeptos.uma.es/THEconomica/malagawpseries/METC.html
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  1. Timothy Besley & Robin Burgess, 2000. "The Political Economy of Government Responsiveness: Theory and Evidence from India," STICERD - Development Economics Papers - From 2008 this series has been superseded by Economic Organisation and Public Policy Discussion Papers 28, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  2. Matthew Gentzkow & Jesse Shapiro, 2005. "Media Bias and Reputation," NBER Working Papers 11664, National Bureau of Economic Research, Inc.
  3. Prat, Andrea & Strömberg, David, 2005. "Commercial Television and Voter Information," CEPR Discussion Papers 4989, C.E.P.R. Discussion Papers.
  4. Robert Barro, 1973. "The control of politicians: An economic model," Public Choice, Springer, vol. 14(1), pages 19-42, March.
  5. 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.
  6. Vaidya, Samarth, 2005. "Corruption in the media's gaze," European Journal of Political Economy, Elsevier, vol. 21(3), pages 667-687, September.
  7. Philippe Aghion & Nick Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2005. "Competition and Innovation: an Inverted-U Relationship," The Quarterly Journal of Economics, Oxford University Press, vol. 120(2), pages 701-728.
  8. 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.
  9. David Strömberg, 2004. "Radio's Impact on Public Spending," The Quarterly Journal of Economics, Oxford University Press, vol. 119(1), pages 189-221.
  10. Baron, David P., 2006. "Persistent media bias," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 1-36, January.
  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.
  12. 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).
  13. Sendhil Mullainathan & Andrei Shleifer, 2002. "Media Bias," NBER Working Papers 9295, National Bureau of Economic Research, Inc.
  14. Bovitz, Gregory L & Druckman, James N & Lupia, Arthur, 2002. "When Can a News Organization Lead Public Opinion? Ideology versus Market Forces in Decisions to Make News," Public Choice, Springer, vol. 113(1-2), pages 127-55, October.
  15. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
  16. 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.
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