Title

Media and Policy

Author(s)

Faruk Gul Faruk Gul (Princeton University)

Wolfgang Pesendorfer Wolfgang Pesendorfer (Princeton University)

Abstract

We identify a mechanism through which media concentration reduces political polarization and media competition (via specialization) increases polarization. This mechanism may help explain the patterns of US Congressional polarization. To avoid offending potential customers, a concentrated media seldom makes clear-cut endorsements and, as a result, provides little information. This leads to the convergence of party policy positions. Under competition, media companies specialize to a narrow ideological spectrum and, as a result, can offer strong endorsements without risk of offending customers. This leads to the divergence of party’s policy positions, that is, political polarization.

Creation Date

2012-09

Section URL ID

Paper Number

2012-2

URL

http://www.princeton.edu/~pesendor/media.pdf

File Function

Jel

D73, D78, L82

Keyword(s)

Media, Party Policies

Suppress

false

Series

13