Political polarization and the electoral effects of media bias

Abstract

Many political commentators diagnose an increasing polarization of the U.S. electorate into two opposing camps. However, in standard spatial voting models, changes in the political preference distribution are irrelevant as long as the position of the median voter does not change. We show that media bias provides a mechanism through which political polarization can affect electoral outcomes.In our model, media firms' profits depend on their audience rating. Maximizing profits may involve catering to a partisan audience by slanting the news. While voters are rational, understand the nature of the news suppression bias and update appropriately, important information may be lost through bias, resulting in inefficient electoral outcomes. We show that polarization increases the profitability of slanting news, thereby raising the likelihood of electoral mistakes. JEL Classification Numbers: C70, D72.

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“…This question is increasingly relevant firstly due to the development of social media. In recent sociological literature the issue of increasing polarization due to the development of social media and the Internet in general (see, e.g., [28,29]), and the impact of polarization on political events [30] is widely discussed.…”

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