“A Spatial Theory of News Consumption and Electoral Competition” by Wing SUEN
University of Hong Kong
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.