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What is Newsworthy? Theory and Evidence

Author

Listed:
  • Luis Armona
  • Matthew Gentzkow
  • Emir Kamenica
  • Jesse M. Shapiro

Abstract

We introduce a model in which a benevolent news outlet decides whether to report the realization of a state to a consumer, who pays a cost to receive it. A simple statistical rule, called a proper scoring rule, describes when the outlet should be more likely to report the realization. Using data from the US television news, we show that a particular scoring rule successfully predicts many salient features of news reporting. We show how to use this rule as a control variable to discipline tests of reporting bias, and we show that controlling for it matters in our applications.

Suggested Citation

  • Luis Armona & Matthew Gentzkow & Emir Kamenica & Jesse M. Shapiro, 2024. "What is Newsworthy? Theory and Evidence," NBER Working Papers 32512, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32512
    Note: IO POL
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    More about this item

    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

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