Does media bias affect voting? We address this question by looking at the entry of Fox News in cable markets and its … bias and about politician quality. The Fox News effect could be a temporary learning effect for rational voters, or a …

quality when its reports conform to the consumer's prior expectations. We use this fact to build a model of media bias in … which firms slant their reports toward the prior beliefs of their customers in order to build a reputation for quality. Bias … emerges in our model even though it can make all market participants worse off. The model predicts that bias will be less …

There are two different types of media bias. One bias, which we refer to as ideology, reflects a news outlet's desire … to affect reader opinions in a particular direction. The second bias, which we refer to as spin, reflects the outlet …. Whereas competition can eliminate the effect of ideological bias, it actually exaggerates the incentive to spin stories …

Property rights are the most fundamental institution in any society. They determine who has decision-making authority … historians have long recognized the importance of secure property rights for economic outcomes. Other political economy …, philosophy, historical, and legal literatures emphasize different, but critical attributes based on how property rights are …

"How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? We …

simultaneously. Nonrivalry leads to increasing returns and implies an important role for market structure and property rights. Who …. Instead, giving the data property rights to consumers can generate allocations that are close to optimal. Consumers balance …