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Competition and Truth in the Market for News

[Symposium: Economics of Persuasion]

By Matthew Gentzkow and Jesse M. Shapiro

Journal of Economic Perspectives, Spring 2008

In this essay, we evaluate the case for competition in news markets from the perspective of economics. First, we consider the simple proposition that when more points of view are heard and defended, beliefs will converge to the truth. This concept of "com...

www.aeaweb.org/articles?id=10.1257/jep.22.2.133

Media Freedom, Political Knowledge, and Participation

[Symposium: Economics of Persuasion]

By Peter T. Leeson

Journal of Economic Perspectives, Spring 2008

This paper examines the relationship between media freedom from government control and citizens' political knowledge, political participation, and voter turnout. To explore these connections, I first examine media freedom and citizens' political knowledge...

www.aeaweb.org/articles?id=10.1257/jep.22.2.155

Identity Theft

By Keith B. Anderson, Erik Durbin, and Michael A. Salinger

Journal of Economic Perspectives, Spring 2008

Identity theft is made possible by the nature of modern payment systems. In the modern economy, sellers are willing to offer goods and services to strangers in exchange for a promise to pay, provided the promise is backed up by data that link the buyer to...

www.aeaweb.org/articles?id=10.1257/jep.22.2.171

Taking the Pulse of the Economy: Measuring GDP

By J. Steven Landefeld, Eugene P. Seskin, and Barbara M. Fraumeni

Journal of Economic Perspectives, Spring 2008

This article provides a broad overview of the measurement techniques used in estimating GDP and the national accounts in the United States. In the United States, the GDP and the national accounts estimates are fundamentally based on detailed economic cen...

www.aeaweb.org/articles?id=10.1257/jep.22.2.193

Markets: Transparency and the Corporate Bond Market

By Hendrik Bessembinder and William Maxwell

Journal of Economic Perspectives, Spring 2008

For decades, corporate bonds primarily traded in an opaque environment. Quotations, which indicate prices at which dealers are willing to transact, were available only to market professionals, most often by telephone. Prices at which bond transactions wer...

www.aeaweb.org/articles?id=10.1257/jep.22.2.217