Time scarcity and the market for news

Mostra el registre complet Registre parcial de l'ítem

• dc.contributor.author Alaoui, Larbi
• dc.contributor.author Germano, Fabrizio
• dc.date.accessioned 2025-01-27T12:37:01Z
• dc.date.available 2025-01-27T12:37:01Z
• dc.date.issued 2020
• dc.description.abstract We develop a theory of news coverage in environments of information abundance. Time-constrained consumers browse through news items across competing outlets. They choose which outlets to access and which stories to read or skip, thus indirectly deciding how much time to spend on a given outlet. Firms decide on rankings of news items that maximize their profits. We show that even when readers (or television viewers) and firms are rational and unbiased, they spend more time on the news than they would like and not necessarily on the topics they prefer. In particular, relevant news items may be crowded out. We then study how reader-efficient standards can be restored, and derive implications on diverse aspects of new and traditional media. These include tabloidization and polarization of the news, and other aspects relevant for the political economy of the media, including political knowledge gaps and voter turnout.
• dc.description.sponsorship The authors acknowledge financial support from the Fundación BBVA grant “Innovación e Información en la Economía Digital”, from the Spanish Ministry of Science and Innovation under grant RYC-2016-21127 (Alaoui), and from the Spanish Ministry of Economy and Competitiveness under project grants ECO2014-56154-P and PGC2018-098949-B-I00 (Alaoui) and ECO2017-89240-P (Germano), as well as through the Severo Ochoa Program for Centers of Excellence in R&D, grant SEV-2015-0563.
• dc.format.mimetype application/pdf
• dc.identifier.citation Alaoui L, Germano F. Time scarcity and the market for news. J Econ Behav Organ. 2020 Jun;174:173-95. DOI: 10.1016/j.jebo.2020.04.009
• dc.identifier.doi http://dx.doi.org/10.1016/j.jebo.2020.04.009
• dc.identifier.issn 0167-2681
• dc.identifier.uri http://hdl.handle.net/10230/69296
• dc.language.iso eng
• dc.publisher Elsevier
• dc.relation.ispartof Journal of Economic Behavior & Organization. 2020 Jun;174:173-95
• dc.relation.projectID info:eu-repo/grantAgreement/ES/2PE/ECO2017-89240-P
• dc.relation.projectID info:eu-repo/grantAgreement/ES/1PE/SEV-2015-0563
• dc.relation.projectID info:eu-repo/grantAgreement/ES/1PE/ECO2014-56154-P
• dc.relation.projectID info:eu-repo/grantAgreement/ES/2PE/PGC2018-098949-B-I00
• dc.rights © Elsevier http://dx.doi.org/10.1016/j.jebo.2020.04.009.
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.subject.keyword Media markets
• dc.subject.keyword Ranking news items
• dc.subject.keyword Time-constrained consumers
• dc.subject.keyword Digital media
• dc.subject.keyword Tabloidization of news
• dc.subject.keyword Political knowledge gaps
• dc.title Time scarcity and the market for news
• dc.type info:eu-repo/semantics/article
• dc.type.version info:eu-repo/semantics/acceptedVersion