Journal of Political Economy Microeconomics
Ravideep Sethi, Helios Herrera
Division of Quantitative Analysis of Markets and Organizations
Abstract
This paper considers a scenario where citizens tailor their news consumption in a way that allows them to root for their preferred political party. This is in contrast with the usual assumption that citizens would choose the most informative news available. Along with the explosion in new media in the US, trust in mainstream media has been decreasing, particularly amongst Republicans. This article presents a framework to analyze how beliefs regarding the mainstream media impact individual media choices and thereby influence electoral outcomes. A substantial political advantage accrues to the side with less exposure to or trust in mainstream media. This may provide one rationale for the fomenting of this distrust by party elites. Additionally, this paper sheds light on how propaganda backfires unless accompanied by censorship or surreptitiousness.
