IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

A Citizen-Editors Model of News Media

  • Francesco Sobbrio

This paper provides a model of the market for news where profit-maximizing media outlets choose their editors from a population of rational citizens. The analysis identifies a novel mechanism of media bias: the bias in a media outlet's news reports is the result of the slanted endogenous information acquisition strategy of its editor. Accordingly, the results show that citizens find it optimal to acquire information from a media outlet whose editor has similar ideological preferences. At the same time, there is always an upper bound on the possible "extremism" of an editor above which the citizens' demand for news is strictly decreasing. Depending on the distribution of citizens' ideological preferences, a media outlet may choose an ideological editor even in a monopolistic market. Moreover, ideological editors are more likely to be present in the market for news: i) the higher the number of media outlets competing in the market for news; ii) the lower the opportunity cost that citizens have to incur to acquire information.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://cadmus.eui.eu/bitstream/handle/1814/24535/RSCAS_2012_61.pdf?sequence=1
Download Restriction: no

File URL: http://hdl.handle.net/1814/24535
Download Restriction: no

Paper provided by European University Institute in its series RSCAS Working Papers with number 2012/61.

as
in new window

Length:
Date of creation: 05 Dec 2012
Date of revision:
Handle: RePEc:rsc:rsceui:2012/61
Contact details of provider: Postal: Convento, Via delle Fontanelle, 19, 50014 San Domenico di Fiesole (FI) Italy
Web page: http://www.eui.eu/RSCAS/

More information through EDIRC

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.:

as in new window
  1. Osborne, Martin J & Slivinski, Al, 1996. "A Model of Political Competition with Citizen-Candidates," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 65-96, February.
  2. Simeon Djankov & Caralee McLiesh & Tatiana Nenova & Andrei Shleifer, . "Who Owns the Media?," Working Paper 19470, Harvard University OpenScholar.
  3. Tim Groseclose & Jeffrey Milyo, 2005. "A Measure of Media Bias," The Quarterly Journal of Economics, MIT Press, vol. 120(4), pages 1191-1237, November.
  4. 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.
  5. Aragones, Enriqueta & Palfrey, Thomas. R., 2000. "Mixed Equilibrium in a Downsian Model With a Favored Candidate," Working Papers 1102, California Institute of Technology, Division of the Humanities and Social Sciences.
  6. Enikolopov, Ruben & Petrova, Maria & Zhuravskaya, Ekaterina, 2009. "Media and Political Persuasion: Evidence from Russia," CEPR Discussion Papers 7257, C.E.P.R. Discussion Papers.
  7. Maria Petrova, 2010. "Mass Media and Special Interest Groups," Working Papers w0144, Center for Economic and Financial Research (CEFIR).
  8. James M. Snyder & David Strömberg, 2010. "Press Coverage and Political Accountability," Journal of Political Economy, University of Chicago Press, vol. 118(2), pages 355-408, 04.
  9. David Strömberg, 2004. "Radio's Impact on Public Spending," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 189-221, February.
  10. Ho, Daniel E. & Quinn, Kevin M., 2008. "Measuring Explicit Political Positions of Media," Quarterly Journal of Political Science, now publishers, vol. 3(4), pages 353-377, December.
  11. Hao Li & Wing Suen, 2004. "Delegating Decisions to Experts," Journal of Political Economy, University of Chicago Press, vol. 112(S1), pages S311-S335, February.
  12. Felix Oberholzer-Gee & Joel Waldfogel, 2009. "Media Markets and Localism: Does Local News en Español Boost Hispanic Voter Turnout?," American Economic Review, American Economic Association, vol. 99(5), pages 2120-28, December.
  13. Sobbrio, Francesco, 2011. "Indirect Lobbying and Media Bias," Quarterly Journal of Political Science, now publishers, vol. 6(3–4), pages 235-274, November.
  14. Baron, David P., 2006. "Persistent media bias," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 1-36, January.
  15. Larcinese, Valentino & Puglisi, Riccardo & Snyder Jr., James M., 2011. "Partisan bias in economic news: Evidence on the agenda-setting behavior of U.S. newspapers," Journal of Public Economics, Elsevier, vol. 95(9-10), pages 1178-1189, October.
  16. Riccardo Puglisi & James M. Snyder, Jr., 2011. "The Balanced U.S. Press," NBER Working Papers 17263, National Bureau of Economic Research, Inc.
  17. Thomas Eisensee & David Strömberg, 2007. "News Droughts, News Floods, and U.S. Disaster Relief," The Quarterly Journal of Economics, MIT Press, vol. 122(2), pages 693-728, 05.
  18. Anderson, Simon P & McLaren, John, 2010. "Media Mergers and Media Bias with Rational Consumers," CEPR Discussion Papers 7768, C.E.P.R. Discussion Papers.
  19. Dasgupta, Partha & Maskin, Eric, 1986. "The Existence of Equilibrium in Discontinuous Economic Games, II: Applications," Review of Economic Studies, Wiley Blackwell, vol. 53(1), pages 27-41, January.
  20. 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.
  21. 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.
  22. Cukierman, A. & Tommasi, M., 1997. "When does it take a Nixon to go to China?," Discussion Paper 1997-91, Tilburg University, Center for Economic Research.
  23. Matthew Gentzkow & Jesse M. Shapiro, 2006. "Media Bias and Reputation," Journal of Political Economy, University of Chicago Press, vol. 114(2), pages 280-316, April.
  24. Fabrizio Germano & Martin Meier, 2011. "Concentration and Self-Censorship in Commercial Media," Working Papers 527, Barcelona Graduate School of Economics.
  25. Prat, Andrea & Strömberg, David, 2011. "The Political Economy of Mass Media," CEPR Discussion Papers 8246, C.E.P.R. Discussion Papers.
  26. Tim Besley & Stephen Coate, . "An Economic Model of Representative Democracy," Penn CARESS Working Papers ecf70d639d700dba5327ab0c8, Penn Economics Department.
  27. Puglisi Riccardo, 2011. "Being The New York Times: the Political Behaviour of a Newspaper," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-34, April.
  28. Stefano DellaVigna & Matthew Gentzkow, 2009. "Persuasion: Empirical Evidence," NBER Working Papers 15298, National Bureau of Economic Research, Inc.
  29. A. Blasco & P. Pin & F. Sobbrio, 2011. "Paying Positive to Go Negative: Advertisers' Competition and Media Reports," Working Papers wp772, Dipartimento Scienze Economiche, Universita' di Bologna.
  30. Stefano DellaVigna & Ethan Kaplan, 2007. "The Fox News Effect: Media Bias and Voting," The Quarterly Journal of Economics, MIT Press, vol. 122(3), pages 1187-1234, 08.
  31. J. Duggan & C. Martinelli, 2011. "A Spatial Theory of Media Slant and Voter Choice," Review of Economic Studies, Oxford University Press, vol. 78(2), pages 640-666.
  32. Isabelle Brocas & Juan D. Carrillo, 2009. "Information Acquisition and Choice Under Uncertainty," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 18(2), pages 423-455, 06.
  33. Wing Suen, 2004. "The Self-Perpetuation of Biased Beliefs," Economic Journal, Royal Economic Society, vol. 114(495), pages 377-396, 04.
  34. Matthew Gentzkow, 2006. "Television and Voter Turnout," The Quarterly Journal of Economics, MIT Press, vol. 121(3), pages 931-972, 08.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:rsc:rsceui:2012/61. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (RSCAS web unit)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.