New study links reputation to media bias

In a groundbreaking new study from the Journal of Political Economy, economists from the University of Chicago argue that, contrary to commonsense views, media bias does not arise from reporters' desire to promote their own beliefs or a politician's ability to manipulate the media.

Instead, Matthew Gentzkow and Jesse M. Shapiro show that bias arises from a reasonable, seemingly contradictory impulse: the desire of a media firm to maximize its reputation as a provider of accurate information.

"Suppose, for example, that a newspaper reports that scientists have successfully produced cold fusion. If a consumer believes this to be highly unlikely a priori, she will rationally infer that the paper probably has poor information or exercised poor judgment in interpreting available evidence," explain Gentzkow and Shapiro. "A media firm concerned about its reputation for accuracy will therefore be reluctant to report evidence at odds with the consumer's prior beliefs."