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Expressed vs revealed preferences. Our reliance on mass media is at an all-time high. The president attacks the media every single day. But then asked why he w
by legitster 1y ago
Expressed vs revealed preferences. Our reliance on mass media is at an all-time high.
The president attacks the media every single day. But then asked why he wanted to deploy troops to Portland: "because of what I saw on TV".
The amount of media outlets has exploded. However, there are fewer journalists than ever "on the beat" - independent researchers, beat reporters, local journalists, industry experts, etc. So most of our original quality reporting is coming from a small set of national sources, and then spun every which in the second-hand media channels.
Not figuring ways to monetize news back in the early days I think will prove to be one of the biggest failures of the internet as a collective technology.
- danaris 1y ago"Revealed preferences" are like "the free market". They make sense in theory, or when you've got a wide array of competing choices that people can pick between at will. When you have monopoly, duopoly, or oligopoly; when all the options in the market come with (or without) X feature (unless you spend a large amount of extra time, money, and/or effort); when, in short, people's choices are significantly constrained... ...the idea that you can determine "what people really want" based on what they pick is bullshit.