We survey the empirical literature in economics on the impact of media technologies on social capital. Motivated by a simple model of information and collective action, we cover a range of different outcomes related to social capital, from social and political participation to interpersonal...

We introduce information frictions into a tractable quantitative multi-country multi-sector model with global value chains. Producers in a sector do not perfectly observe contemporaneous shocks to other countries and sectors, and their output decisions respond to their idiosyncratic beliefs...

We document the immediate and long-term effects of violent media. Specifically, we evaluate the effects of The Ultimate Fighter, a hit TV show that features fighters competing in violent mixed martial arts and which brought Ultimate Fighting Championship into the mainstream. We estimate the...

We study learning via shared news. Each period agents receive the same quantity and quality of first-hand information and can share it with friends. Some friends (possibly few) share selectively, generating heterogeneous news diets across agents akin to echo chambers. Agents are aware of...

How people form beliefs is crucial for understanding decision-making under uncertainty. This is particularly true in a situation such as a pandemic, where beliefs will affect behaviors that impact public health as well as the aggregate economy. We conduct two survey experiments to shed light on...

This paper investigates the extent to which strategic objectives of the U.S. government influenced news coverage during the Cold War. We establish two relationships: 1) strategic objectives of the U.S. government cause the State Department to under-report human rights violations of strategic...

The Federal Communications Commission (FCC) has used auctions to award spectrum since 1994. During this time period, the FCC has experimented with a variety of auctions rules including click box bidding and anonymous bidding. These rule changes make the actions of bidders less visible during the...

This paper addresses a longstanding puzzle involving the unbundling of services that has occurred over more than two decades in the U.S. advertising agency industry: How can the shift from the bundling to the unbundling of services be explained and what accounts for the slow pace of change?...

We study the effect of media coverage on corporate governance by focusing on Russia in the period 1999-2002. This setting offers us three ideal conditions for such a study: plenty of corporate governance violations, no alternative mechanisms to address them, and the presence of an investment...