Institutional Affiliation: Massachusetts Institute of Technology
|Media Competition and News Diets|
with , : w26782
News media operate in two-sided markets, offering bundles of content to readers as well as selling readers' attention to advertisers. Technological innovations in content delivery, such as the advent of broadcast television or of the Internet, affect both sides of the market, threatening the basic economic model of print news operations. We examine how the entry of television affected local newspapers as well as consumer media diets in the United States. We develop a model of print media and show that entry of national television news could adversely affect the provision of local news. We construct a novel dataset of U.S. newspapers' economic performance and content choices from 1944 to 1964. Our empirical strategy exploits quasi-random variation in the timing of the entry of television in...
|How Merchant Towns Shaped Parliaments: From the Norman Conquest of England to the Great Reform Act|
with , : w23606
We study the emergence of urban self-governance during the Commercial Revolution in the 12th- 13th century and show that municipal autonomy shaped national institutions over the subsequent centuries. We focus on England after the Norman Conquest of 1066 and build a novel comprehensive dataset of 554 Medieval towns (boroughs). We show that merchant towns were particularly likely to obtain Farm Grants – the right of self-governed tax collection and law enforcement. We present evidence that self-governance, in turn, fostered enfranchisement: Farm Grant towns were much more likely to be summoned directly to the Medieval English Parliament than otherwise similar towns. We also show that self-governed towns strengthened the role of Parliament: They resisted royal attempts to introduce patronage ...