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PERSISTENT MEDIA BIAS - nyu.edu
Research Paper No. 1845 PERSISTENT MEDIA BIASD avid P. BaronStanford UniversityFebruary 2004 AbstractThe news MEDIA plays an essential role in society, but surveys indicate that the mediais widely viewed as biased. This paper presents a theory of MEDIA bias that originateswith private information obtained by journalists through their investigations and persistsdespite profit-maximizing news organizations and rivalry from other news has two effects on the demand for news. First, rational citizens are more skeptical ofpotentially biased news and thus rely less on it in their individual decision-making. Second,bias makes certain stories more likely than others. This paper presents a supply-side theoryin which bias originates with journalists who have a preference for influence and are willingto sacrifice wages to exercise it. News organizations can control the bias by restricting thediscretion allowed to journalists, but granting discretion and tolerating bias can increaseprofits.
PERSISTENT MEDIA BIAS1 David P. Baron Stanford University I. Introduction The news media plays an essential role in society by providing information to the public for
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