Media bias and electoral competition
This paper examines the incentives of ideological media outlets to acquire costly information in a context of asymmetric information between political parties and voters. We consider two market structures: a monopoly media market and a duopoly one. We show that if each party has the support of a media, either party has the same probability of winning the election. However, if just one of the parties has the support of the media, the results might well change, as this party will get into office with a higher probability than the other party. We also analyze voters' welfare in this context and show that the important aspect is whether a media industry exists, and not the number of media outlets.
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| Length: | 15 pages |
| Date of creation: | Mar 2008 |
| Date of revision: | |
| Handle: | RePEc:mal:wpaper:2008-6 |
| Contact details of provider: | Postal: Plaza del Ejido s/n 29071, Málaga Phone: 952131196 Fax: 952131199 Web page: http://webdeptos.uma.es/THEconomica/malagawpseries/METC.html Email: More information through EDIRC
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References listed on IDEAS
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.:
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- 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.
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Elsevier, vol. 90(1-2), pages 37-58, January.
- Giacomo Corneo, 2005. "Media Capture in a Democracy: The Role of Wealth Concentration," CESifo Working Paper Series 1402, CESifo Group Munich.
- Corneo, Giacomo, 2005. "Media capture in a democracy: the role of wealth concentration," Discussion Papers 2005/1, Free University Berlin, School of Business & Economics.
- Robert Barro, 1973. "The control of politicians: An economic model," Public Choice, Springer, vol. 14(1), pages 19-42, March.
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