The internet enables the media to initially post and change articles at any time. I compare this situation to one in which news can only be released once. I determine the editorial standard, a cutoff for how confident a firm must be to post an article. If changing a story is costly, the firm's...

This study examines the role of media coverage on meritorious shareholder litigation. Asserting a causal effect of the media on litigation is normally difficult due to the endogenous nature of media coverage. However, we use the Wall Street Journal’s backdating coverage to overcome these...

This paper examines how increases in broadcast channels affect equilibrium in broadcasting markets and social surplus. In our model, viewers have preferences for many potential varieties of news and entertainment programs. Our model explains different market phenomena: the previous limited...

We review and model the impact of the internet on the production and uptake of high-quality news. Our review of trends in the market for news suggests 3 stylized facts: i) particular quality news markets are dominated by merely a few providers, ii) demand for quality news appears stable, but...

Motivated reasoning posits that people distort how they process new information in the direction of beliefs they find more attractive. This paper introduces a novel experimental paradigm that is able to portably identify motivated reasoning from Bayesian updating across a variety of factual...

Looking at TV news viewership in Italy during the COVID-19 pandemic using actual consumption data, we investigate whether demand for national and local news depends on national or local epidemiological developments, as measured by the number of new positives or the number of currently positives...

We examine whether the desire for more information is people's dominant motive for reading economic and political news. Drawing on representative samples of the U.S. population with more than 15,000 respondents in total, we measure and experimentally vary people's beliefs about the...

In a large-scale online experiment with U.S. Democrats, we examine how the demand for a newsletter about an economic relief plan changes when the newsletter content is fact-checked. We first document an overall muted demand for factchecking when the newsletter features stories from an...

In a large-scale online experiment with U.S. Democrats, we examine how the demand for a newsletter about an economic relief plan changes when the newsletter content is fact-checked. We first document an overall muted demand for fact-checking when the newsletter features stories from an...