Politics,entertainment and business: a multisided model of media |
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Authors: | Alejandro Castañeda César Martinelli |
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Affiliation: | 1.Centro de Estudios Económicos,Colegio de México,Mexico City,Mexico;2.Department of Economics,George Mason University,Fairfax,USA |
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Abstract: | We offer a model of media as a multisided platform, providing entertainment and news to viewers, commercial opportunities to advertisers, and political influence to politicians, thanks to the presence of influenceable voters among the media audience. We characterize a political economic equilibrium, determining simultaneously media choices and politicians’ electoral positions. We show that as the value of political influence increases, the media transitions from catering to commercial advertisers to selling political influence, resulting in policy choices that hurt influenceable voters. |
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