Responsive democracy and commercial media

Saptarshi P. Ghosh, Nidhi Jain, Ćesar Martinelli, Jaideep Roy

Research output: Contribution to journalArticlepeer-review


In an election over two policies, public mood swings whereby voters move ideologically towards a particular policy should never hurt its electoral performance. We find that this fundamental monotonicity property of preference aggregation cannot be guaranteed in the presence of a commercial media. When such a media outlet supplies news about policy-relevant uncertainty, mood swings affect demand for information. This in turn alters news quality, changing interim preferences and votes that can crowd out the ideological gain of the favored policy.

Original languageEnglish
Article number110961
JournalEconomics Letters
Early online date12 Dec 2022
Publication statusPublished - 31 Jan 2023


  • Aggregate uncertainty
  • Commercial media
  • Electoral monotonicity
  • Mood swings

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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