IDEAS home Printed from https://ideas.repec.org/p/zbw/tuiedp/335045.html

Twitter/X, Fake News und Demokratie: Ein ökonomischer Blick auf Media Bias und den Markt für Fehlinformationen im digitalen Zeitalter

Author

Listed:
  • Stöhr, Annika
  • Rösch, Jürgen
  • Kuchinke, Björn A.
  • Budzinski, Oliver

Abstract

In dem vorliegenden Beitrag fassen wir die ökonomische Theorie von Media Bias und Misinformation zusammen und übertragen sie in das digitale Medienzeitalter. Dabei arbeiten wir heraus, inwieweit sich die theoretischen Wirkungsketten durch die Besonderheiten digitaler Informationsmärkte verändern (Abschnitt 2.1-2.3). Wir legen einen Schwerpunkt auf den bekannten Trade-Off, der postuliert, dass eine gewinnmaximierende Präferenzorientierung bei der Verzerrung von Nachrichteninhalten im Widerspruch zu einer strategischen politischen Beeinflussung der Rezipienten steht. Eine Steigerung des Erfüllungsgrads des einen Ziels geht mit einem Sinken des Erfüllungsgrad des anderen Ziels einher (Abschnitt 2.4). Wir überprüfen, ob sich dieser Trade-off im Fallbeispiel der Übernahme und Umbenennung der erfolgreichen Marke Twitter durch Eon Musk wiederfinden lässt (Abschnitt 3) und ziehen ordnungspolitischer Schlussfolgerungen (Abschnitt 4).

Suggested Citation

  • Stöhr, Annika & Rösch, Jürgen & Kuchinke, Björn A. & Budzinski, Oliver, 2025. "Twitter/X, Fake News und Demokratie: Ein ökonomischer Blick auf Media Bias und den Markt für Fehlinformationen im digitalen Zeitalter," Ilmenau Economics Discussion Papers 203, Ilmenau University of Technology, Institute of Economics.
    • Handle: RePEc:zbw:tuiedp:335045
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/335045/1/1949327205.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ruben Enikolopov & Maria Petrova & Ekaterina Zhuravskaya, 2011. "Media and Political Persuasion: Evidence from Russia," American Economic Review, American Economic Association, vol. 101(7), pages 3253-3285, December.
    2. 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.
    3. Sobbrio, Francesco, 2011. "Indirect Lobbying and Media Bias," Quarterly Journal of Political Science, now publishers, vol. 6(3–4), pages 235-274, November.
    4. Gary S. Becker & Kevin M. Murphy, 1993. "A Simple Theory of Advertising as a Good or Bad," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(4), pages 941-964.
    5. Schnellenbach Jan, 2018. "On the behavioral political economy of regulating fake news," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 68(1), pages 159-178, March.
    6. Stefano DellaVigna & Matthew Gentzkow, 2010. "Persuasion: Empirical Evidence," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 643-669, September.
    7. Guy Aridor & Rafael Jiménez-Durán & Ro'ee Levy & Lena Song, 2024. "The Economics of Social Media," Journal of Economic Literature, American Economic Association, vol. 62(4), pages 1422-1474, December.
    8. Patrice Bougette & Oliver Budzinski & Frédéric Marty, 2022. "Self-Preferencing and Competitive Damages: A Focus on Exploitative Abuses," GREDEG Working Papers 2022-01, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    9. David Evans & Richard Schmalensee, 2007. "The Industrial Organization of Markets with Two-Sided Platforms," CPI Journal, Competition Policy International, vol. 3.
    10. Ruben Durante & Andrea Fabiani & Luc Laeven & José-Luis Peydró, 2021. "Media capture by banks," Economics Working Papers 1817, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2022.
    11. Budzinski, Oliver, 2021. "Wettbewerbsordnung und digitale Medienmärkte," Ilmenau Economics Discussion Papers 153, Ilmenau University of Technology, Institute of Economics.
    12. Yi Xiang & Miklos Sarvary, 2007. "News Consumption and Media Bias," Marketing Science, INFORMS, vol. 26(5), pages 611-628, 09-10.
    13. Petrova, Maria, 2012. "Mass media and special interest groups," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 17-38.
    14. Budzinski, Oliver, 2022. "Lobbyismus und Medienwirtschaft - Strategische Beeinflussung von Informationsflüssen," Ilmenau Economics Discussion Papers 162, Ilmenau University of Technology, Institute of Economics.
    15. 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, April.
    16. Susan Athey & Markus Mobius & Jeno Pal, 2021. "The Impact of Aggregators on Internet News Consumption," NBER Working Papers 28746, National Bureau of Economic Research, Inc.
    17. Paul Belleflamme & Martin Peitz, 2020. "Ratings, reviews and recommendations," LIDAM Reprints CORE 3076, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    18. Baron, David P., 2006. "Persistent media bias," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 1-36, January.
    19. Matthew Gentzkow & Jesse M. Shapiro, 2011. "Ideological Segregation Online and Offline," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(4), pages 1799-1839.
    20. Choi, Jay Pil & Yang, Sangwoo, 2021. "Investigative journalism and media capture in the digital age," Information Economics and Policy, Elsevier, vol. 57(C).
    21. Ralf Dewenter, 2007. "Crossmediale Fusionen und Meinungsvielfalt," Working Paper 65/2007, Helmut Schmidt University, Hamburg.
    22. 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.
    23. Hunt Allcott & Luca Braghieri & Sarah Eichmeyer & Matthew Gentzkow, 2020. "The Welfare Effects of Social Media," American Economic Review, American Economic Association, vol. 110(3), pages 629-676, March.
    24. 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, January.
    25. Ceren Budak & Brendan Nyhan & David M. Rothschild & Emily Thorson & Duncan J. Watts, 2024. "Misunderstanding the harms of online misinformation," Nature, Nature, vol. 630(8015), pages 45-53, June.
    26. Blasco, Andrea & Sobbrio, Francesco, 2012. "Competition and commercial media bias," Telecommunications Policy, Elsevier, vol. 36(5), pages 434-447.
    27. Stefano DellaVigna & Ethan Kaplan, 2007. "The Fox News Effect: Media Bias and Voting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(3), pages 1187-1234.
    28. Shapiro, Jesse M., 2016. "Special interests and the media: Theory and an application to climate change," Journal of Public Economics, Elsevier, vol. 144(C), pages 91-108.
    29. David P. Baron, 2005. "Competing for the Public Through the News Media," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 14(2), pages 339-376, June.
    30. Brendan Nyhan, 2020. "Facts and Myths about Misperceptions," Journal of Economic Perspectives, American Economic Association, vol. 34(3), pages 220-236, Summer.
    31. Steven T. Berry & Joel Waldfogel, 2001. "Do Mergers Increase Product Variety? Evidence from Radio Broadcasting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(3), pages 1009-1025.
    32. Jacques Simon Song & Georges Ngnouwal Eloundou & Fabrice Bitoto Ewolo & Blaise Ondoua Beyene, 2024. "Does Social Media Contribute to Economic Growth?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 8349-8389, June.
    33. Brendan Nyhan & Jaime Settle & Emily Thorson & Magdalena Wojcieszak & Pablo Barberá & Annie Y. Chen & Hunt Allcott & Taylor Brown & Adriana Crespo-Tenorio & Drew Dimmery & Deen Freelon & Matthew Gentz, 2023. "Like-minded sources on Facebook are prevalent but not polarizing," Nature, Nature, vol. 620(7972), pages 137-144, August.
    34. Germano, Fabrizio & Meier, Martin, 2013. "Concentration and self-censorship in commercial media," Journal of Public Economics, Elsevier, vol. 97(C), pages 117-130.
    35. Simon P. Anderson & John McLaren, 2012. "Media Mergers And Media Bias With Rational Consumers," Journal of the European Economic Association, European Economic Association, vol. 10(4), pages 831-859, August.
    36. George Beknazar-Yuzbashev & Rafael Jiménez-Durán & Mateusz Stalinski, 2024. "A Model of Harmful Yet Engaging Content on Social Media," AEA Papers and Proceedings, American Economic Association, vol. 114, pages 678-683, May.
    37. Robert M. Bond & Christopher J. Fariss & Jason J. Jones & Adam D. I. Kramer & Cameron Marlow & Jaime E. Settle & James H. Fowler, 2012. "A 61-million-person experiment in social influence and political mobilization," Nature, Nature, vol. 489(7415), pages 295-298, September.
    38. Daniel Ershov & Juan S Morales, 2024. "Sharing News Left and Right: Frictions and Misinformation on Twitter," The Economic Journal, Royal Economic Society, vol. 134(662), pages 2391-2417.
    39. Guglielmo Barone & Francesco D'Acunto & Gaia Narciso, 2015. "Telecracy: Testing for Channels of Persuasion," American Economic Journal: Economic Policy, American Economic Association, vol. 7(2), pages 30-60, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Francesco Sobbrio, 2014. "The political economy of news media: theory, evidence and open issues," Chapters, in: Francesco Forte & Ram Mudambi & Pietro Maria Navarra (ed.), A Handbook of Alternative Theories of Public Economics, chapter 13, pages 278-320, Edward Elgar Publishing.
    2. Jun Hu, 2021. "Regulation of media bias on online newspapers," Working Papers hal-03120466, HAL.
    3. Francesco Sobbrio, 2012. "A Citizen-Editors Model of News Media," RSCAS Working Papers 2012/61, European University Institute.
    4. Piolatto, Amedeo & Schuett, Florian, 2015. "Media competition and electoral politics," Journal of Public Economics, Elsevier, vol. 130(C), pages 80-93.
    5. Biondo, A.E. & Pluchino, A. & Rapisarda, A., 2018. "Modeling surveys effects in political competitions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), pages 714-726.
    6. Piolatto, Amedeo & Schuett, Florian, 2015. "Media competition and electoral politics," Journal of Public Economics, Elsevier, vol. 130(C), pages 80-93.
    7. Sobbrio, Francesco, 2014. "Citizen-editors' endogenous information acquisition and news accuracy," Journal of Public Economics, Elsevier, vol. 113(C), pages 43-53.
    8. Maria Battaggion & Alessandro Vaglio, 2015. "Watchdogs, Platforms and Audience: An Economic Perspective on Media Markets," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 43(2), pages 209-228, June.
    9. Eraslan, Hulya & Ozerturk, Saltuk, 2017. "Information Gatekeeping and Media Bias," Working Papers 17-001, Rice University, Department of Economics.
    10. Di Gioacchino, Debora & Verashchagina, Alina, 2020. "Mass media and preferences for redistribution," European Journal of Political Economy, Elsevier, vol. 63(C).
    11. Kishishita, Daiki & Sato, Susumu, 2025. "Watchdog versus yes man: News source and media competition," Games and Economic Behavior, Elsevier, vol. 153(C), pages 233-253.
    12. Sendhil Mullainathan & Andrei Shleifer, 2005. "The Market for News," American Economic Review, American Economic Association, vol. 95(4), pages 1031-1053, September.
    13. Trombetta, Federico & Rossignoli, Domenico, 2021. "The price of silence: Media competition, capture, and electoral accountability," European Journal of Political Economy, Elsevier, vol. 69(C).
    14. Cagé, Julia, 2017. "Media Competition, Information Provision and Political Participation: Evidence from French Local Newspapers and Elections, 1944," CEPR Discussion Papers 12198, C.E.P.R. Discussion Papers.
    15. Ozerturk, Saltuk, 2022. "Media access, bias and public opinion," European Economic Review, Elsevier, vol. 147(C).
    16. Marcel Garz & Jonna Rickardsson, 2023. "Ownership and media slant: Evidence from Swedish newspapers," Kyklos, Wiley Blackwell, vol. 76(1), pages 18-40, February.
    17. Ascensión Andina Díaz, 2011. "Mass Media in Economics: Origins and Subsequent Contributions," Working Papers 2011-02, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
    18. Gehlbach, Scott & Sonin, Konstantin, 2014. "Government control of the media," Journal of Public Economics, Elsevier, vol. 118(C), pages 163-171.
    19. Friebel, Guido & Heinz, Matthias, 2014. "Media slant against foreign owners: Downsizing," Journal of Public Economics, Elsevier, vol. 120(C), pages 97-106.
    20. Budzinski, Oliver & Stöhr, Annika, 2025. "Regulating recommender systems? Effects of data-based individualization (and its limits) on competition in the digital world," Ilmenau Economics Discussion Papers 204, Ilmenau University of Technology, Institute of Economics.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • L96 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Telecommunications

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:tuiedp:335045. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/ivtuide.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.