Events

Authors:

• Wing SUEN
  University of Hong Kong

• Jimmy CHAN

This paper introduces a model in which rational voters select news sources with ideological positions similar to their own. We find that extreme media outlets do not influence political outcomes, and that new entry always increases the chance that political parties adopt the policy favored by the median voter. A slightly partisan media outlet, which is trusted by the supporters of a party, is more effective than a completely centrist one in inducing the party to adopt less partisan policies. In a commercial media market, voter welfare is typically higher under duopoly than under monopoly.