The Economics of Badmouthing: Libel Law and the Underworld of the Financial Press in France before World War I
This article analyzes the economics of “badmouthing” in the context of the pre-1914 French capital market. We argue that badmouthing was a means through which racketeering journals sought to secure property rights over issuers’ reputation. We provide a theoretical study of the market setup that emerged to deal with such problems, and we test our predictions using new evidence from contemporary sources.
Year of publication: |
2010
|
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Authors: | Bignon, Vincent ; Flandreau, Marc |
Institutions: | EconomiX, Université Paris Ouest-Nanterre la Défense (Paris X) |
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