We suggest a model of electoral competition between two parties which is extended by a third player : mass media. The … classical one-dimensional competition model is changed by introducing an issue-specific sensibility-coefficient and by allowing …

other ways to strengthen media competition − such as increased polarization and prevention of collusion − critically depends …

runs, and face a threat of entry. Higher competition increases deposit rates and bank fragility, resulting in an … intermediate socially optimal level of bank competition. We provide a novel theory of bank opacity. The cost of opacity is more …