Between Agora and Shopping Mall
Josef Falkinger
No 3524, IZA Discussion Papers from Institute of Labor Economics (IZA)
Abstract:
Advertisements provide consumers with knowledge about private products, whereas political information is required to provide voters with knowledge of public issues. Modern information technologies and globalization are increasing the exposure of individuals to information. Goods advertising is competing with political information for people's attention. This paper presents a politico-economic equilibrium model in which the tension between private and public agendas can be analysed. It is shown that in an information-rich society, international goods market integration tends to reduce the quality of public policy. Complementing economic integration with political integration can increase the gains from globalisation, though not in all cases.
Keywords: globalisation; agenda-setting; information-rich societies; scarcity of attention; advertising (search for similar items in EconPapers)
JEL-codes: D83 H11 L86 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2008-05
New Economics Papers: this item is included in nep-cdm, nep-mkt and nep-pol
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Citations: View citations in EconPapers (5)
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Working Paper: Between Agora and Shopping Mall (2008) 
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