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Responsive democracy and commercial media

Author

Listed:
  • Ghosh, Saptarshi P.
  • Jain, Nidhi
  • Martinelli, Ćesar
  • Roy, Jaideep

Abstract

In an election over two policies, public mood swings whereby voters move ideologically towards a particular policy should never hurt its electoral performance. We find that this fundamental monotonicity property of preference aggregation cannot be guaranteed in the presence of a commercial media. When such a media outlet supplies news about policy-relevant uncertainty, mood swings affect demand for information. This in turn alters news quality, changing interim preferences and votes that can crowd out the ideological gain of the favored policy.

Suggested Citation

  • Ghosh, Saptarshi P. & Jain, Nidhi & Martinelli, Ćesar & Roy, Jaideep, 2023. "Responsive democracy and commercial media," Economics Letters, Elsevier, vol. 222(C).
    • Handle: RePEc:eee:ecolet:v:222:y:2023:i:c:s0165176522004359
    DOI: 10.1016/j.econlet.2022.110961
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    References listed on IDEAS

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    1. Siddhartha Bandyopadhyay & Kalyan Chatterjee & Jaideep Roy, 2020. "Extremist Platforms: Political Consequences Of Profit‐Seeking Media," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(3), pages 1173-1193, August.
    2. J. Duggan & C. Martinelli, 2011. "A Spatial Theory of Media Slant and Voter Choice," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(2), pages 640-666.
    3. 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.
    4. 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.
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    6. Chun-Fang Chiang & Brian Knight, 2011. "Media Bias and Influence: Evidence from Newspaper Endorsements," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(3), pages 795-820.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Mood swings; Aggregate uncertainty; Commercial media; Electoral monotonicity;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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