Media Power

40 Pages Posted: 10 Nov 2017

See all articles by Andrea Prat

Andrea Prat

Columbia University - Columbia Business School, Finance; Centre for Economic Policy Research (CEPR)

Multiple version iconThere are 2 versions of this paper

Date Written: January 27, 2017


This paper defines the power of a media organization as its ability to induce voters to make electoral decisions they would not make if reporting were unbiased. It derives a robust upper bound to media power over a range of assumptions about the beliefs and attention patterns of voters. The paper then presents estimates of the power index for the US and shows how these can inform merger analysis and other policy debates.

Keywords: media power, media concentration

JEL Classification: L82

Suggested Citation

Prat, Andrea, Media Power (January 27, 2017). Columbia Business School Research Paper No. 17-107, Available at SSRN: or

Andrea Prat (Contact Author)

Columbia University - Columbia Business School, Finance ( email )

3022 Broadway
New York, NY 10027
United States

Centre for Economic Policy Research (CEPR)

United Kingdom

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