Media capture in a democracy: the role of wealth concentration

Giacomo Corneo

No 2005/1, Discussion Papers from Free University Berlin, School of Business & Economics

Abstract: Since objective news coverage is vital to democracy, captured media can seriously distort collective decisions. The current paper develops a voting model where citizens are uncertain about the welfare eþects induced by alternative policy options and derive information about those eþects from the mass media. The media might however secretly collude with interest groups in order to in.uence the public opinion. In the case of voting over the level of a productivity-enhancing public bad, it is shown that an increase in the concentration of firm ownership makes the occurrence of media bias more likely. Although media bias is not always welfare worsening, conditions for it to raise welfare are restrictive.

Keywords: Mass Media; Public Bads; Voting; Wealth Inequality (search for similar items in EconPapers)
JEL-codes: D72 H41 (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Media capture in a democracy: The role of wealth concentration (2006)
Working Paper: Media Capture in a Democracy: The Role of Wealth Concentration (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:fubsbe:20051

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