Spatial Competition in Cable News: Where Are Larry King and O’Reilly located in Latent Attribute Space? Bharat Anandy Dmitri Byzalovz Harvard Business School Harvard University June 2008 VERY PRELIMINARY Abstract . We are grateful to Rafael Di Tella, Julie Holland-Mortimer, Felix Oberholzer-Gee, Ariel Pakes, Ron Shachar, and seminar participants for helpful conversations. Anand gratefully acknowledge the …nancial support from the Division of Research at Harvard Business School.
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[email protected], (617)-529-3805. 1 1. Introduction There has been a growing public debate around the existence and consequences of bias in the media. Accompanying this has been a recent explosion in the academic literature on media bias. Starting with Mullainathan and Shleifer’s analysis of factors that can result in news “slant”, there have been various theoretical papers that try to explain why bias might even arise as an equilibrium phenomenon (see Baron 2004 and 2006; Stromberg 2004, Gentzkow and Shapiro 2006, Anand et al 2007). Various papers examine both supply-side reasons and demand-side forces. At the same time, the data on which this debate, and literature, is grounded has until recently remained rather anecdotal. Some books describe a liberal bias (Bias [Bernard Goldberg, 2001], Slander: Liberal Lies About the American Right [Ann Coulter, 2002], South Park Conservatives: A Revolt Against Liberal Bias [Brian Anderson, 2005]), others a conservative bias (What Liberal Media [Eric Alterman, 2005], Lies and Lying Liars who Tell Them [Al Franken, 2007], Blinded by the Right [David Brock, 2007]). Interestingly, even these authors of best-selling books acknowledge the lack of any hard data on the subject1.