%0 Journal Article %1 corneo2006mcd %A Corneo, G. %D 2006 %I Elsevier %J Journal of Public Economics %K Mass_media citizens economy inequality medgov %N 1-2 %P 37--58 %T Media capture in a democracy: The role of wealth concentration %U http://dx.doi.org/10.1016/j.jpubeco.2005.08.002 %V 90 %X 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 effects induced by alternative policy options and derive information about those effects from the mass media. The media might however secretly collude with interest groups in order to influence 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. Mass_media inequality economy medgov citizens

@article{corneo2006mcd, 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 effects induced by alternative policy options and derive information about those effects from the mass media. The media might however secretly collude with interest groups in order to influence 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. Mass_media inequality economy medgov citizens}, added-at = {2008-03-25T06:38:08.000+0100}, author = {Corneo, G.}, biburl = {https://www.bibsonomy.org/bibtex/25211e9628d6b0a46b64e4779e0061cf0/afeld}, description = {medgov}, interhash = {1522f3db921b592c418d7ff4be76fb67}, intrahash = {5211e9628d6b0a46b64e4779e0061cf0}, journal = {Journal of Public Economics}, keywords = {Mass_media citizens economy inequality medgov}, note = {Free University of Berlin, CEPR, CESifo, IZA, Germany Received 25 April 2005; revised 19 July 2005; accepted 14 August 2005. Available online 21 September 2005.}, number = {1-2}, pages = {37--58}, publisher = {Elsevier}, timestamp = {2008-03-25T06:38:12.000+0100}, title = {{Media capture in a democracy: The role of wealth concentration}}, url = {http://dx.doi.org/10.1016/j.jpubeco.2005.08.002}, volume = 90, year = 2006 }