publication . Article . 2007

News Consumption and Media Bias

Yi Xiang; Miklos Sarvary;
Open Access
  • Published: 01 Jan 2007 Journal: Marketing Science, volume 26, issue 5 09-10, pages 611-628
Abstract
Bias in the market for news is well-documented. Recent research in economics explains the phenomenon by assuming that consumers want to read (watch) news that is consistent with their tastes or prior beliefs rather than the truth. The present paper builds on this idea but recognizes that (i) besides “biased” consumers, there are also “conscientious” consumers whose sole interest is in discovering the truth, and (ii) consistent with reality, media bias is constrained by the truth. These two factors were expected to limit media bias in a competitive setting. Our results reveal the opposite. We find that media bias may increase when there are more conscientious con...
Subjects
free text keywords: information goods, complements, media competition, media positioning
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