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The Demand for News: Accuracy Concerns versus Belief Confirmation Motives

Author

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  • Felix Chopra

    (Department of Economics, University of Copenhagen)

  • Ingar Haaland

    (NHH Norwegian School of Economics)

  • Christopher Roth

    (University of Cologne)

Abstract

We examine the relative importance of accuracy concerns and belief confirmation motives in driving the demand for news. In experiments with US voters, we first vary beliefs about whether an outlet reports thenews in a right-wing biased, left-wing biased, or unbiased way. We then measure demand for a newsletter covering articles from this outlet. Right-wing voters strongly reduce their demand for left-wing biased news, but not for right-wing biased news. The reverse patterns hold for left-wing voters. These results suggest a trade-off between accuracy concerns and belief confirmation motives. We quantify this trade-off using a structural model and find a similar quantitative importance of both motives.

Suggested Citation

  • Felix Chopra & Ingar Haaland & Christopher Roth, 2024. "The Demand for News: Accuracy Concerns versus Belief Confirmation Motives," CEBI working paper series 24-07, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    • Handle: RePEc:kud:kucebi:2407
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    Cited by:

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    3. Felix Chopra & Christopher Roth & Johannes Wohlfart, 2023. "Home Price Expectations and Spending: Evidence from a Field Experiment," CEBI working paper series 23-03, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    4. Siddique, Abu & Vlassopoulos, Michael & Zenou, Yves, 2024. "Leveraging Edutainment and Social Networks to Foster Interethnic Harmony," CEPR Discussion Papers 19034, C.E.P.R. Discussion Papers.
    5. Kfir Eliaz & Ran Spiegler, 2024. "News Media as Suppliers of Narratives (and Information)," Papers 2403.09155, arXiv.org.
    6. Fang, Ximeng & Innocenti, Stefania, 2023. "Increasing the acceptability of carbon taxation: The role of social norms and economic reasoning," INET Oxford Working Papers 2023-25, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    7. Ambrocio, Gene & Hasan, Iftekhar, 2022. "Belief polarization and Covid-19," Bank of Finland Research Discussion Papers 10/2022, Bank of Finland.
    8. Salvatore Nunnari & Giovanni Montari, 2019. "Audi Alteram Partem: An Experiment on Selective Exposure to Information," Working Papers 650, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    9. Ingar Haaland & Julian König & Christopher Roth & Johannes Wohlfart, 2024. "Information Experiments," ECONtribute Discussion Papers Series 271, University of Bonn and University of Cologne, Germany.
    10. Siddique, Abu & Vlassopoulos, Michael & Zenou, Yves, 2024. "Leveraging Edutainment and Social Networks to Foster Interethnic Harmony," CEPR Discussion Papers 19034, C.E.P.R. Discussion Papers.

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    More about this item

    Keywords

    News Demand; Media Bias; Accuracy Concerns; Belief Confirmation;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General

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