NBER WORKING PAPER SERIES MEDIA BIAS AND REPUTATION Matthew Gentzkow Jesse M. Shapiro Working Paper 11664 http://www.nber.org/papers/w11664 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 September 2005 We are grateful to Alberto Alesina, Attila Ambrus, Nigel Ashford, Chris Avery, Heski Bar-Isaac, Gary Becker, Tyler Cowen, Jonathan Feinstein, Jeremy Fox, Drew Fudenberg, Ed Glaeser, Jerry Green, James Heckman, Tom Hubbard, Steve Levitt, Larry Katz, Kevin M. Murphy, Roger Myerson, Canice Prendergast, Matthew Rabin, Andrei Shleifer, Lars Stole, Richard Thaler, Richard Zeckhauser and seminar participants at Harvard University, the University of Chicago, the Institute for Humane Studies, and the University of British Columbia for helpful comments. We thank Christopher Avery, Judith Chevalier, Matthew Hale, Martin Kaplan, Bryan Boulier and H. O. Stekler for generously providing access to their data. Karen Bernhardt, Fuhito Kojima, Jennifer Paniza and Tina Yang provided excellent research assistance. Gentzkow acknowledges financial assistance from the Social Science Research Council and the Centel Foundation/Robert P. Reuss Faculty Research Fund. Shapiro acknowledges financial assistance from the Institute for Humane Studies, the Center for Basic Research in the Social Sciences, the Chiles Foundation and the National Science Foundation. E-mail:
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[email protected]. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. ©2005 by Matthew Gentzkow and Jesse M. Shapiro. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source.